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Burgan Bank Celebrates its Graduates from the Kafa a Leadership Development Program
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Burgan Bank Announces Net Income Of Kd45 4 Mn For FY 2021
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Highlights
Burgan Bank K.P.S.C. (“Burgan” or “bank”) announced its financial results for the Financial Year 2020. The bank reported Net Income of KD 33.7mn for the year.
Burgan Bank K.P.S.C. (“Burgan” or “bank”) announced its financial results for the Financial Year 2020. The bank reported Net Income of KD 33.7mn for the year.
FY’20 Revenues declined by 14.3% year-on-year to KD 212.8mn, primarily due to the pandemic-led weak operating environment and the low interest rates. However, the bank generated stable levels of Non-Interest Income for the year at KD 72.8mn.
The bank reported KD 97.2mn of Operating Expenses for the year, a 4.9% improvement over previous year due to a number of cost-saving initiatives undertaken during 2020 and delivered robust Operating Profit of KD 115.5mn.