Kuwait's Burgan Bank plans 150 mln dinar bonds | Reuters

Kuwait's Burgan Bank plans 150 mln dinar bonds | Reuters:

Kuwait’s Burgan Bank has won approval from the country’s central bank to issue up to 150 million dinars ($496 million) senior unsecured bonds, the bank said on Monday.

The bank, which reported in July a 43 percent rise in second-quarter profit from a year earlier, had a common equity tier 1 of 11 percent and a capital adequacy ratio of 16.6 percent.

Outside Kuwait, the bank has operations in Turkey, Algeria, Iraq and Tunisia.