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DUBAI - 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) ((Saeed.Azhar@thomsonreuters.com; +971 44536787; Reuters Messaging: saeed.azhar.reuters.com@reuters.net))