Burgan Bank ('Burgan' or 'the Bank') announced its financial results for the first half of 2025 (H1'25), for the period ending June 30, 2025. The results indicate continued operational progress and consistent performance across key business areas.During the first half of the year, the Bank recorded revenues of KD 126 million, representing a 14% increase year-on-year (y-o-y) compared to H1'24. The growth was primarily supported by an increase in Net Interest Income, which rose to KD 83 million, marking a 16% y-o-y increase. This was driven by stronger Net Interest Margins, which improved to 2.2% in H1'25 from 2.1% in the same period last year, along with continued expansion of the loan portfolio. Non-interest income also grew by 9% y-o-y to KD 43 million in H1'25, largely reflecting the contribution from United Gulf Bank (UGB) starting this quarter.Driven by healthy top-line momentum, Burgan Bank delivered Operating Profit of KD 49 million and Net Income of KD 21 million, reflecting operational stability relative to the same period last year.On the balance sheet front, the Bank demonstrated resilient asset growth. Total assets increased by 14% y-o-y, reaching KD 8.7 billion as of June 30, 2025. The loan portfolio stood at KD 4.6 billion, up 4% y-o-y. The deposit base also expanded by 16%, reaching KD 5.4 billion, reinforcing the Bank's stable and diversified funding base.Burgan Bank also sustained a healthy capital and liquidity position. The Common Equity Tier 1 (CET1) ratio stood at 11.7%, while the Capital Adequacy Ratio (CAR) reached 17.4%, both comfortably above the regulatory minimum requirements of 10.5% and 14.0%, respectively. Additionally, the Bank's liquidity remained strong, with a Liquidity Coverage Ratio (LCR) of 225% and a Net Stable Funding Ratio (NSFR) of 113%, both well in excess of the 100% regulatory threshold.Commenting on the H1'25 financial results, Burgan Bank's Chairman, Sheikh Abdullah Nasser Al-Sabah, said: 'The first half of 2025 marks another strong step forward in Burgan Bank's transformation journey. As we navigate a complex regional and global landscape, our performance reflects the Bank's resilience, disciplined execution, prudent risk management, and forward-looking strategy. Backed by a solid financial core and a clear vision, we remain focused on creating sustainable long-term value for our shareholders, empowering our people, and delivering an elevated banking experience for our customers.'He added: 'Through financial management and strategic focus, we continue to make meaningful progress – reinforcing the strength of our core Kuwait operations, sustaining growth across the Group, and deepening our role as a trusted partner to customers and communities. Beyond the numbers, we are committed to building a modern banking model that responds to the needs of tomorrow – driven by innovation, rooted in strong governance, and powered by our most valuable asset: our people.'Mr. Tony Daher, Group Chief Executive Officer at Burgan Bank, said: 'Our first-half performance in 2025 reflects the strength of our financial position, strategic clarity, and operational discipline. We achieved solid revenue and asset growth, backed by a robust capital base— demonstrating our agility in a challenging and fast-evolving environment. At the same time, we continue laying the groundwork for the future by accelerating our digital transformation, modernizing our core banking infrastructure, and building scalable platforms to drive long-term innovation and growth.'Adding: 'Our strategy is driven by people: our employees, our customers, and our communities and we are building a culture that fuels ambition and advances our role as a future-ready, human-centric institution.'Burgan Bank Secures Inclusion in FTSE4Good Index, Affirming Sustainability Leadership In June 2025, Burgan Bank was included in the prestigious FTSE4Good Index Series—a recognition that underscores the Bank's steadfast commitment to Environmental, Social, and Governance (ESG) excellence. The FTSE4Good Index Series is a globally respected benchmark that identifies companies demonstrating strong ESG performance and is widely used by institutional investors and asset managers to integrate ESG factors into investment strategies and support the development of responsible investment products and funds.Burgan Bank's inclusion reflects its comprehensive ESG strategy, built on a clear roadmap and robust framework that have enabled measurable progress across its core sustainability pillars. This milestone reinforces the Bank's continued efforts to embed ESG principles across all aspects of its operations—further strengthening its position as a forward-thinking, impact-driven financial institution.Commenting on the Bank's inclusion in the FTSE4Good Index Series, Mr. Daher said: "Being one of only five Kuwaiti organizations recognized by the globally respected FTSE Russell is a proud milestone and a clear testament to our unwavering dedication to sustainability. This achievement reflects our relentless commitment to embedding ESG principles throughout our operations, culture, and stakeholder relationships. It strengthens our resolve to drive sustainable growth that creates real value for our community while building a resilient, inclusive, and environmentally responsible future."Burgan Bank Sustains Momentum in Rolling Out Digital Transformation Initiatives During H1'25, Burgan Bank introduced SoftPOS by KNET, an innovative digital payment solution that empowers business owners and entrepreneurs to accept payments directly through an Android smartphone—completely eliminating the need for traditional POS hardware. Designed specifically for mobile and small-scale merchants, SoftPOS offers a cost-effective, secure, and flexible alternative that simplifies transactions and enhances operational agility. This forward-looking solution is a testament to Burgan Bank's ongoing drive to lead in digital transformation, offering smart banking tools that elevate the customer experience while enabling businesses to grow and adapt in an increasingly digital marketplace.Burgan Bank Strengthens Commitment to Future-Ready Human Capital and Youth EmpowermentTrue to its mission to become an employer of choice and its dedicated strategy for investing in national human capital, Burgan Bank maintained a strong emphasis on its people-first culture throughout the second quarter of the year. The Bank reinforced its commitment to talent development and employee empowerment by celebrating the accomplishments of team members who completed advanced training programs, including executive education at Harvard Business School and certifications from the Kuwait Institute of Banking Studies. Employees also advanced through Burgan Bank's flagship Ro'ya program, which continues to nurture a new generation of in-house leaders. Further demonstrating its inclusive approach, the Bank launched several initiatives under its 'Empower Her' initiative to honor the achievements and contributions of its female workforce.Burgan Bank's commitment to people extended beyond its internal teams, reaching into the broader community to support the development of the next generation of national talent. The Bank sponsored Academy X, Kuwait's largest women-led tech empowerment initiative, in partnership with CODED Academy and Kuwait University. It also participated in several major university career fairs, strengthening its engagement with aspiring professionals and reaffirming its long-standing commitment to youth development and national workforce empowerment. Burgan Bank Wins 2024 Visa Award, Reinforcing Leadership in Premium Card Innovation Burgan Bank was recognized with the 2024 Visa Award for 'Best-in-Class Premium Active Cards Growth in Kuwait', reaffirming its position as a leader in premium card innovation. This prestigious accolade highlights the Bank's ongoing efforts to enhance the customer experience through cutting-edge, secure, and lifestyle-oriented payment solutions. The award also reflects the strong synergy between the Bank's Retail Banking and Private Banking divisions, whose collaboration has fueled notable growth in the premium card segment. In addition, the recognition underscores Burgan Bank's long-standing partnership with Visa, through which the Bank has introduced a wide array of tailored card offerings, enriched with exclusive rewards, loyalty benefits, and premium privileges designed to meet the evolving aspirations of its clientele.Sheikh Abdullah Nasser Al-Sabah concluded by saying: 'Our achievements are not a destination, but stepping stones in our continuous journey of success and sustainable growth. We remain committed to serving our customers, our community, and the broader economy as a proactive, responsible corporate citizen—delivering on our promises and driving meaningful, sustainable progress. I would also like to extend my gratitude to all those who have helped us achieve our success and our solid financial standing.' Building on these achievements and the momentum they have created, Burgan Bank is committed to adhering to the same levels of excellence and innovation throughout the remainder of the year, adding value and making change wherever possible in the market and across society.
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