Quotes: MENA   Enter Symbol: NewsLetter: Search: advanced

Burgan Bank Group Announces First Quarter 2014 Earnings  Join our daily free Newsletter

MENAFN Press - 13/05/2014
No. of Ratings : 0
Add to Mixx!



(MENAFN Press) Burgan Bank Group announced today its first quarter earnings for 2014. Net profit reported at KD17.1 million reflecting a growth of 10% from KD 15.6 million reported for the first quarter in 2013. The continuation of the solid growth pattern has characterized the group's performance in 2013 amid the complexity in the regional operating environment. Compared to the same period last year, Operating income surged to KD 61.7 million registering a growth of 10% while Operating Profits before provisions soared to register KD 34million reflecting a growth of 14%. Earnings per share grew from 10.1 fils to 11.2 fils mirroring a growth of 11%.

The performance during the first quarter of 2014 delivered a continuous solid growth in all business lines across the group with high quality earnings registered during the quarter, net interest income grew by 19% while net fees and commission grew by 7% compared to the first quarter of 2013.

Mr. Majed Essa Al Ajeel, Chairman of Burgan Bank Group said: " every analysis confirms that as a group, we are still preserving the trend of growing faster than the markets".

"once Again, we are still reaping the benefits of our focused execution of the two core elements of our strategy: Grow market share wi profitability in the core market, and, diversify into faster growth markets. The quarters-to quarters trends confirm that we are achieving both." Added Mr. Al-Ajeel


Mr. Majed Essa Al-Ajeel also said: "Our leading financial indicators continue to point to the right direction, Our regional operations remain profitable and contributing 47% to the group's revenues . I remain confident and optimistic of the group's strong performance going forward. "

"On behalf of the board, I take this opportunity to thank our customers and shareholders for their confidence in our capabilities. I would also like to thank our executive management team for their leadership and the excellent execution of the corporate strategy, and to our staff for their continued support and commitment," concluded Al Ajeel.

The consolidated financials encompass the results of the Group's operations in Kuwait, and its share from its regional subsidiaries, namely Jordan Kuwait Bank, Gulf Bank Algeria, Burgan Bank “ Turkey, Bank of Baghdad, Tunis International Bank, in which Burgan Bank owns a majority stake. Burgan Bank Group has one of the largest regional branch networks with more than 233 branches across Kuwait, Turkey, Jordan, Algeria, Iraq, Tunis, Lebanon and Palestine.


About Burgan Bank Group
Burgan Bank Group

 


MENAFN Press




  MENA News Headlines
 May 3 2016 - Political powers consider security storming of Press Syndicate 'unprecedented'Daily News Egypt
(MENAFN - Daily News Egypt) Several political entities and other syndicates declared their solidarity with the Press Syndicate on Monday, following security forces storming the building to arrest two ...

 May 3 2016 - On World Press Freedom Day, Egyptian journalists strike against increasing violationsDaily News Egypt
(MENAFN - Daily News Egypt) The Press Syndicate Council announced the commencement of an indefinite strike in the early hours of Monday morning, following security forces' storming of the syndicate's ...

 May 3 2016 - New Dubai desert tour rules in three monthsKhaleej Times
(MENAFN - Khaleej Times) Dubai's Department of Tourism and Commerce Marketing (Dubai Tourism) has announced new desert tour and camp regulations designed to elevate the already popular pastime to ...

 May 3 2016 - Dubai Cares helps educate African nationsKhaleej Times
(MENAFN - Khaleej Times) The launch of two Early Childhood Development (ECD) programmes by Dubai Cares in Tanzania and Zanzibar could change the face of the country's education system says Cecilia ...

 May 3 2016 - Dubai Tourism drives desert tour and c regulationKhaleej Times
(MENAFN - Khaleej Times) Dubai's Department of Tourism and Commerce Marketing (Dubai Tourism) has unveiled new Desert Tour and Camp Regulations aimed at further elevating the popular Dubai desert ...

 May 3 2016 - UAE- Job-hunting in Mena: Do you have what it takesKhaleej Times
(MENAFN - Khaleej Times) Employers in the Middle East and North Africa region have revealed that it is a challenge to find experienced candidates with the skill sets that they require especially ...

 May 3 2016 - In roaring style: Jaguar rolls out first-ever SUV in DubaiKhaleej Times
(MENAFN - Khaleej Times) British luxury brand Jaguar late on Monday accomplished a historic world-first for its Middle East launch of the All-New F-Pace performance SUV. In a fitting tribute to the ...

 May 3 2016 - UAE pavilion a falcon in flightKhaleej Times
(MENAFN - Khaleej Times) The UAE will soar to new heights with falcon-inspired design for its World Expo 2020 National Pavilion. In November 2013 the UAE won the right to host the World Expo in ...

 May 3 2016 - UAE- GCC remittances to Arab nations rise 6 in Q1Khaleej Times
(MENAFN - Khaleej Times) The World Bank Group's Migration and Development April 2016 report has positioned the GCC as a global hub of outward remittances particularly to non-GCC Arab countries. ...

 May 3 2016 - Dubai FDI mission to US spurs investor interestKhaleej Times
(MENAFN - Khaleej Times) Dubai's ambitious growth plans as well as policy focus on competitiveness and innovation were explained to US investors and businesses during a series of 'Doing Business in ...

 May 3 2016 - Old friends US and Saudi Arabia feel the rift growing seek new partnersAsia Times
(MENAFN - Asia Times) US President Barack Obama’s April visit to Saudi Arabia was overshadowedby Riyadh’s doubts about Washington’s commitment to their security and political ...

 May 3 2016 - UAE- Mohamed bin Zayed receives members of the Board of Trustees of the Forum for Promoting Peace in Muslim SocietiesEmirates News Agency (WAM)
(MENAFN - Emirates News Agency (WAM)) ABU DHABI 2nd May 2016 (WAM) His Highness Sheikh Mohamed bin Zayed Al Nahyan Crown Prince of Abu Dhabi and Deputy Supreme Commander of the UAE Armed Forces ...

 May 3 2016 - UAE- MOFAAIC Under-Secretary attends South African Embassy reception UPDATEEmirates News Agency (WAM)
(MENAFN - Emirates News Agency (WAM)) ABU DHABI 2nd May 2016 (WAM) -- Mohammed Mir Abdullah Al Raisi Under-Secretary of the Ministry of Foreign Affairs and International Cooperation (MOFAAIC) ...

 May 3 2016 - UAE- Federal Supreme Court hears pleading of public prosecutor in Yemeni Muslim BrotherhoodEmirates News Agency (WAM)
(MENAFN - Emirates News Agency (WAM)) Abu Dhabi 2nd May 2016 (WAM) - The State Security Chamber of the Federal Supreme Court today heard the pleading of the prosecutors in the case of the Yemeni ...

 May 3 2016 - UAE- Etihad Airways Parma Airport sign cooperation agreement on cargo trafficEmirates News Agency (WAM)
(MENAFN - Emirates News Agency (WAM)) ABU DHABI 2nd May 2016 (WAM)--Etihad Airways and Parma Airport have signed an agreement to develop cargo traffic at the airport of the central Italian city. ...

 May 3 2016 - Abdullah bin Zayed heads UAE delegation to 6th session of Joint Higher UAE - Qatar Ministerial Committee UPDATEEmirates News Agency (WAM)
(MENAFN - Emirates News Agency (WAM)) DOHA 2nd May 2016 (WAM) H.H. Sheikh Abdullah bin Zayed Al Nahyan Minister of Foreign Affairs and International Cooperation has stressed that the UAE and ...

 May 3 2016 - Abdullah bin Zayed heads UAE delegation to 6th session of Joint Higher UAE - Qatar Ministerial Committee - Final AddEmirates News Agency (WAM)
(MENAFN - Emirates News Agency (WAM)) DOHA 2nd May 2016 (WAM) xxxx. Relations. Sheikh Abdullah thanked the heads and members of the preparatory committees for their efforts in ensuring the ...

 May 3 2016 - At the end of joint committee meeting UAE and Qatar affirm commitment to continuing mutual consultation and coordination towards bilateral issues regional and global challengesEmirates News Agency (WAM)
(MENAFN - Emirates News Agency (WAM)) Doha 2nd May 2016 (WAM) -- UAE Minister of Foreign Affairs and International Cooperation H.H. Sheikh Abdullah bin Zayed Al Nahyan and Qatar's Foreign ...

 May 3 2016 - At the end of joint committee meeting UAE and Qatar affirm commitment to continuing mutual consultation and coordination 1st addEmirates News Agency (WAM)
(MENAFN - Emirates News Agency (WAM)) Sheikh Mohammed bin Abdulrahman Al-Thani said that the two-day meetings were successful adding that they ended with signing a number of cooperation ...

 May 3 2016 - UAE Can Become the Clean Energy Finance Capital of the World Says Chairman of the Clean Energy Business CouncilEmirates News Agency (WAM)
(MENAFN - Emirates News Agency (WAM)) DUBAI 2nd May 2016 (WAM) - The United Arab Emirates (UAE) can become the clean energy finance capital of the world according to Dr. Nasser Saidi - former ...

more...


 






Google

 
 

Middle East North Africa - Financial Network

MENAFN News Market Data Countries Tools Section  
 

Middle East North Africa - Financial Network
Arabic MENAFN

Main News
News By Industry
News By Country

Islamic Finance News
Private Equity News

How-To Guides
Technology Section

Travel Section

Search News

Market Indices
Quotes & Charts

Global Indices
Arab Indices

Commodoties

Oil & Energy

Currencies Cross Rates
Currencies Updates
Currency Converter

USA Stocks
Arab Stocks
 

Algeria 
Bahrain 
Egypt 
Iraq
Jordan 
Kuwait 
Lebanon
Morocco 
Oman 
Palestine
Qatar 
Saudi Arabia 
Syria
Tunisia 
UAE 
Yemen

Weather
Economic Calendar
Financial Glossary


Financial Calculators

RSS Feeds [XML]

Corporate Monitor

Events

Real Estate
Submit Your Property

Arab Research
Buy a Research

Press Releases
Submit your PR

Join Newsletters


 
© 2014 menafn.com All Rights Reserved.  Terms of Service | Privacy Policy | Contact Us | Advertise | About MENAFN | Career Opportunities | Feedback | Help