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SAIB reports $139 million Q1 net profit

its assets increased by 20.08 percent to $43.65bn.

Nissan forecasts $5.3bn annual net loss

Last year, it announced 9,000 job cuts worldwide.

Saudia to acquire 20 wide-body aircraft

10 of these being acquired for its flydaeal low-cost airline

ADIB’s Q1 net profit $517 million

Q1 2025 net profit before tax increased 18% YoY.

Emirates Islamic Q1 profit $394m

The bank's profit crossed AED 1bn mark for the first time.

Kuwait’s Burgan Bank gets approval to issue $500m senior bonds

Kuwait's Burgan Bank Sells 52% Stake in BBT to KIPCO's Rawabi Holding.
  • The bank said the proceeds from the bond issuance will help it reinforce its long-term liquidity.
  • The bonds will have either a five-year tenor and a fixed coupon, or a six-year tenor with redeem option.

Kuwait’s Burgan Bank has been allowed to issue up to $500 million senior unsecured bonds under its Euro Medium Term Note program.

In a statement on the Kuwait stock exchange on Wednesday, the bank, which is a subsidiary of Kuwait Projects Company Holding KSC, said it has received approval from the Central Bank of Kuwait to issue the bonds.

The bonds will have either a five-year tenor and a fixed coupon, or a six-year tenor with the option to redeem after five years where they will have a fixed coupon rate for the first five years of their tenor and a floating rate for their final year to maturity.

The bank added that the proceeds from the bond issuance will help it reinforce its long-term liquidity and regulatory liquidity ratios.
According to media reports, sales of senior bonds are relatively rare from the Gulf’s banks, but Burgan’s debt-raising plans follow the country’s biggest lender, the National Bank of Kuwait, securing $1 billion last week via six-year senior bonds non-callable for five years.

Burgan Bank raised $500 million in December with subordinated Tier 2 bonds. It also has $500 million in outstanding AT1 bonds with a first call date in 2024, reports said.