Burgan Bank Group wins "Best Banking Group in MENA 2012" award

Eguren: The group is in a strong position and well poised for growth in 2012 and beyond

Kuwait - April 2^nd, 2012:

Burgan Bank Group announced today that it has received the prestigious "Best Banking Group in MENA 2012" award by Global Banking & Finance Review, one of the world's leading global banking and finance online publications.

The award comes in recognition of the group's turnaround performance and delivery of sound results across its operations in Kuwait, Jordan, Algeria, Iraq and Tunis.

Eduardo Eguren, Burgan Bank Group's Chief Executive Officer said: "We are very pleased with our recent achievement of being recognized as the "Best Banking Group in MENA 2012". This accolade is a testament to our turnaround process that delivered a solid financial performance across the group."

"Our 2011 performance was marked by five major highlights that delivered a robust financial performance despite the low economic activity levels and political unrest in some part of the region: improving our top line behavior (revenues) and operating margins, reducing the cost of credit, Restoring the profitability of Kuwait's operations, maintaining the growth trajectory modes of the regional subsidiaries, and delivering significantly improved returns to our shareholders. 2011 performance has placed the group in a strong position and we are well poised for growth in 2012 and beyond."  Added Eguren.

 Burgan Bank has four majority owned subsidiaries: Jordan Kuwait Bank (Jordan), Gulf Bank Algeria (Algeria), Bank of Baghdad (Iraq), and Tunis International Bank (Tunisia), (collectively known as the "Burgan Bank Group").

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About Burgan Bank Group
Established in 1977, Burgan Bank is the youngest commercial Bank based in Kuwait, with a significant focus on the corporate and financial institutions sectors, as well as having a growing retail and private bank customer base.

Burgan Bank has four majority owned subsidiaries: Gulf Bank Algeria - AGB (Algeria), Bank of Baghdad - BOB (Iraq), Jordan Kuwait Bank - JKB (Jordan) and Tunis International Bank - TIB (Tunisia), (collectively known as the"Burgan Bank Group").

The Bank has continuously improved its performance over the years through an expanded revenue structure, diversified funding sources, and a strong capital base. The adoption of state-of-the-art services and technology has positioned it as a trendsetter in the domestic market and within the MENA region.

Burgan Bank's brand has been created on a foundation of real values - of trust, commitment, excellence and progression, to remind us of the high standards to which we aspire. 'People come first' is the foundation on which its products and services are developed.

Excellence is one of the Bank's four key values and Burgan Bank continually strives to maintain the highest standards in the industry. The Bank was re-certified in 2010 with the ISO 9001:2008 certification in all its banking businesses, making it the only Bank in GCC to receive such accreditation. The Bank also has to its credit the distinction of being the only Bank in Kuwait to have won the JP Morgan Chase Quality Recognition Award, twelve years in succession.

Burgan Bank won the prestigious "Banking Web Awards" prize in the commercial and corporate Category for Kuwait. In 2010 Burgan Bank was awarded with the "Best Internet Banking Service award" from Banker Middle East Awards. Burgan Bank was recognized in 2011 as Kuwait's "Best Private Bank", by World Finance. The bank also won, in 2011, the coveted "International Platinum Star For Quality" award from Business Initiative Directions, and "The Best Technical Award" from Banking Web Awards.

Burgan Bank, a subsidiary of KIPCO (Kuwait Projects Company), is a strongly positioned regional Bank in the MENA region.

© Press Release 2012