Kuwait's Burgan Bank, which recently bought the Turkish arm of EFG Eurobank, announced that it is planning to buy a quarter stake in Malta-based trade finance specialist Fimbank.
Burgan Bank, the commercial banking arm of Kuwait Projects Co, has received approval from the Gulf state's Central Bank for the acquisition. The acquisition is conditional on signing the final agreement with Fimbank and approval from relevant authorities in Malta.
Established in 1977, Burgan Bank, a subsidiary of KIPCO (Kuwait Investment Projects Company), is a regional bank with majority owned subsidiaries in the MENA region.
Bank Audi Research