UPDATE 1-Kuwait's Burgan Bank says to raise capital this year | Reuters

UPDATE 1-Kuwait's Burgan Bank says to raise capital this year | Reuters:



"Kuwait's Burgan Bank wants to raise more capital this year to comply with the Basel III banking industry regulations while any acquisitions were unlikely to come soon, the lender's chief executive said on Monday.




The increase, which may happen in the third or fourth quarter of this year, could be "pure capital" or perpetual bonds or both, CEO Eduardo Eguren said, depending on discussions with regulators and shareholders.



"We are discussing this with the central bank," he told reporters on the sidelines of the bank's annual general meeting.



"I know that we may need to increase capital by 20, 30 percent for sure," he said, without giving an exact figure."



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