Burgan Bank today announced that Brand Finance, the international brand valuation company has re-affirmed Burgan Bank brand rating as AA with a positive outlook. Burgan Bank is the only bank in Kuwait that witnessed an increase in its total brand value, which came at $199 million compared to $175 million last year. The brand ratings and values were recently published in “The Banker” magazine, a Financial Times publication, where Brand Finance has featured the world’s most valuable 500 banking brands.
Bashir Jaber, Burgan Bank’s Assistant General Manager – Corporate Communications said: “We are delighted with the recent ratings published by Brand Finance, and ranking at the top of the banking brand ratings in Kuwait. Burgan Bank is the only conventional bank in Kuwait and one of only 5 banks in Middle East that has achieved an absolute rise in its brand value. Our brand model has been an essential component of our corporate strategy, one which aims at 1) increasing market share with profitability in the core market 2) achieving scale, capabilities and footprint through strategic acquisitions”.
Burgan Bank enjoys an award winning strong branding platform that reflects its values of trust as well as partnership to deliver international best practices throughout its operations.
“Going forward, Burgan Bank’s performance is on the right trajectory. We remain focused on further developing the bank’s brand in Kuwait, and across the markets we operate in. Recently, Burgan Bank announced the expansion of its regional brand platform to Turkey following its recent acquisition of Eurobank Tekfen, where as of January 28, is operating under the name of Burgan Bank – Turkey,” added Jaber.
In 2012, Burgan Bank won the “Best Bank Branding” award by the Banker Middle East. The bank was recognized for its creative approach towards continuously building its brand name and values, an element that is reflected across all forms of communications including the physical application of its brand concept within branches and channels to provide seamless services to customers.
The global 500 banking brands, is an annual report published by “Brand Finance” in association with “The Banker” – a “financial times publication”. Each brand is rated on the basis of a benchmarking study of the brand's strength, risk and future potential relative to its competitors and a summary measure of the business’s financial strength and delivery.