September 3, 2018 / 5:20 AM / 2 months ago

Kuwait's Burgan Bank plans 150 mln dinar bonds

DUBAI, Sept 3 (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.

$1 = 0.3028 Kuwaiti dinars Reporting by Saeed Azhar; Editing by Amrutha Gayathri

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