Burgan Bank Joins Regional Sustainability Leaders with Inclusion in FTSE4Good Index Series
As a trusted financial partner and a bank that is 'Driven by You', Burgan Bank remains dedicated to upholding its responsibility toward its customers, community, and investors, by adopting the highest standards of ESG practices and ensuring that its business success reflects positively on its stakeholders.
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Jordan Times
16 hours ago
- Jordan Times
Central Bank of Jordan maintains interest rates unchanged
AMMAN — The Open Market Operations Committee of the Central Bank of Jordan (CBJ) on Thursday decided to maintain interest rates on monetary policy instruments unchanged. The CBJ said in a statement that the decision was a result of the bank's commitment to closely monitor the national economy's developments, particularly monetary and banking indicators. It also said that the decision aligns with a comprehensive review of the international and regional economic dynamics. Citing the latest economic indicators, the bank said that Jordan's economy has shown notable resilience and flexibility in the face of persistent geopolitical tensions in the region, with the country's GDP growing by 2.7 per cent in the first quarter of 2025, marking an increase of 0.5 percentage points compared to the same period last year. The CBJ projects the economy will maintain this growth rate throughout the year, buoyed by strengthening domestic and external demand. Economic indicators confirm the strength of monetary stability in the Kingdom, the bank said, adding that its currency reserves surpassed $22 billion at the end of June, sufficient to cover 8.4 months of the country's imports of goods and services. Inflation has remained steady, averaging 2 per cent during the first half of the year, with full-year projections hovering around 2.2 per cent, CBJ said. 'This price stability supports consumer purchasing power and bolsters the competitiveness of the national economy.' The CBJ said that the banking sector continues to post strong figures. Customer deposits at local banks rose by 7.1 per cent year-on-year, reaching JD48.2 billion by the end of June. Credit facilities extended by banks grew by 3.9 per cent to JD35.5 billion over the same period. Financial soundness indicators reflect a robust banking system, with the capital adequacy ratio standing at 18.0 per cent, 'among the highest in the region,' the bank said, adding that the legal liquidity ratio reached 144.7 per cent, well above the CBJ's required minimum of 100 per cent. The CBJ said that the external sector also reported positive performance, with tourism revenues increasing by 11.9 per cent in the first half of the year to reach $3.7 billion compared to the same period in 2024. Total exports saw a significant rise of 8.6 per cent during the first five months of 2025, totalling $5.6 billion, the CBJ said.
Al Bawaba
a day ago
- Al Bawaba
Burgan Bank Reports Stable Financial Performance for H1 2025
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 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 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 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 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 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 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 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 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 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 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.
Al Bawaba
3 days ago
- Al Bawaba
Burgan Bank Joins Regional Sustainability Leaders with Inclusion in FTSE4Good Index Series
Burgan Bank announced its inclusion as a constituent in the FTSE4Good Index Series, an affirmation of its unwavering commitment to ESG best practices. Developed by global index and data provider FTSE Russell, the FTSE4Good Index Series is a globally recognized benchmark that measures the performance of companies demonstrating strong Environmental, Social, and Governance (ESG) practices. These indices are widely used by investors and asset managers to incorporate ESG factors into their investment decisions, as well as to create and evaluate responsible investment funds and related financial products. Built on transparent management standards and rigorous assessment criteria, FTSE Russell's evaluations consider performance in areas such as corporate governance, health & safety, anti-corruption, and climate change. Companies included in the FTSE4Good Index Series demonstrate compliance with a variety of stringent ESG on this accomplishment, Mr. Fadel Abdullah, Chief Executive Officer – Kuwait at Burgan Bank, stated: 'We are honored to be one of the five organizations in Kuwait recognized by globally renowned FTSE Russell for our unwavering efforts to adopt the best ESG practices in the banking sector and embed them into our operations, culture, and stakeholder engagement. Burgan's inclusion in the FTSE4Good Index Series is a testament to our consistent and measurable progress in sustainability recognition affirms our strategic commitment to sustainable business growth, designed to create a positive impact on our community, industry, and natural environment while supporting a resilient and equitable future for all stakeholders.'The inclusion in the FTSE4Good Index Series provides external validation of Burgan Bank's efforts to align with global sustainability standards and frameworks such as UN Sustainable Development Goals (SDGs), Global Reporting Initiative (GRI), Sustainability Accounting Standards Board (SASB), and Kuwait Vision 2035. This recognition reflects Burgan's strong ESG agenda, driven by a comprehensive framework and strategic roadmap, under which the Bank has achieved significant progress across its four ESG pillars of Good Governance, Responsible Banking, Community Betterment, and Environmental Impact the environmental front, Burgan Bank was awarded the LEED Gold certification (O&M v4.1) for its head office, recognizing its exceptional energy-efficient design and sustainable operations. The Bank continues to advance its Green House Gas (GHG) mapping and reduction efforts to design a long-term decarbonization strategy. The Bank has installed electric vehicle (EV) charging stations at its head office and select branches, and motion-sensor lighting to optimize energy efficiency as well as installed rooftop solar panels for clean renewable energy. Furthermore, the Bank has made concerted efforts for climate risk integration in its credit the social sustainability front, Burgan Bank reaffirmed its recognition as a certified Great Place to Work® and continued to champion diversity and inclusion within its workforce. The Bank surpassed the mandated Kuwaitization target with 86% national representation, while women comprised 45% of its total staff, including strong representation in senior leadership roles. The Bank's efforts for social sustainability were also evident in its learning and development programs, tailored to address diverse needs and interests. In its pursuit of establishing a culture of healthy work-life balance, Burgan Bank currenly offers five days of fully paid paternity leave, one day of birthday leave, and four self-care days, in addition to the standard annual leave Bank also offers numerous programs, benefits, events, and sporting initiatives for the comprehensive development of its employees. Moreoever, Burgan Bank has launched several initiatives and programs to empower women in the workplace and support their professional development – such as the "Lean In Circle" program and the "Empower Her" initiative. It is worth noting that the Bank is also major supporter of the "Partners for Hire" campaign, which aims to sustainably empower people with disabilities and provide them with job opportunities across various departments. Along the same lines and to cater to this community, Burgan Bank has also allocated six branches to serve customers with disabilities to promote equal access to banking part of its social impact agenda, the Bank maintained its long-standing support for the Kuwait Association for Care of Children in Hospital (KACCH) and Bayt Abdullah Children's Hospice (BACCH), helping ensure access to vital palliative care services. In 2024, Burgan Bank also partnered with the Kuwait Olympic Committee (KOC) as a sponsor of the national delegation to the Paris 2024 Olympics, reinforcing its commitment to community development and national Bank remains committed to fostering a strong compliance culture across the organization, focused on preventing financial crime, including money laundering, terrorism financing, fraud, corruption, and bribery. This commitment is underpinned by a robust governance framework that reflects the Bank's dedication to ethical conduct, responsible leadership, and maintaining the highest standards of security in the banking Bank's comprehensive ESG strategy also delivered notable advancements in digital transformation, particularly in cybersecurity, with the implementation of cutting-edge technologies, AI-driven threat detection, and proactive incident response measures to ensure maximum data protection for all Burgan Bank has consistently led the way in transparency and sustainability, reporting its sustainability related efforts and achievements consecutively for thelast six years since 2019. This reinforces the Bank's committed adherence to transparent governance and proactive sustainability leadership, demonstrating its year-on-year improvements in the sustainability and ESG performance. As a trusted financial partner and a bank that is 'Driven by You', Burgan Bank remains dedicated to upholding its responsibility toward its customers, community, and investors, by adopting the highest standards of ESG practices and ensuring that its business success reflects positively on its stakeholders.
