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The Baa1 long-term deposit ratings assigned to Burgan Bank K.P.S.C. (Burgan) benefit from four notches of uplift from the bank's ba2 Baseline Credit Assessment (BCA), reflecting our view of a very high probability of support from the Government of Kuwait (A1 stable), in case of need. We also assume moderate probability of affiliate support from its parent, Kuwait Projects Company (Holding) K.S.C.P. (KIPCO, Ba2 negative), which results in no rating uplift as the parent company is rated in line with Burgan's standalone BCA.

Burgan's standalone BCA of ba2 reflects its relatively robust pre-provision income and profitability combined with highly provisioned nonperforming loans (NPLs), which remained low at 2.2% as of September 2023. However, its adequate capitalisation remains lower than the average of Kuwaiti banks, while its credit positive drivers are counterbalanced by the bank's high credit concentration and related-party exposures, which give rise to potential asset risks.

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Burgan Bank's innovative and pioneering digital bank 'ON' in Turkey has signed a strategic business partnership with Commencis to further its vision of becoming the country's leading digital banking provider. This new partnership enables Commencis to bring its expertise to Burgan Mobile and ON on their digital transformation journey.

Istanbul, Turkey--(Newsfile Corp. - November 24, 2022) - Next generation digital banking platform ON has signed an agreement with technology provider Commencis to provide support for improving ON's mobile processes. Under the deal, Commencis, which helps companies grow their offering through digital channels, will team up with next generation digital banking platform ON, to support them in providing products and services specifically designed to meet customer needs.

Highlighting the fact that they have been offering ON as a streamlined and slimmed-down banking experience since October 2021, Burgan Bank's Executive Vice President for Digital Banking Halil zcan said, "We are developing our ON brand to constantly evolve and improve digitally, to give our customers a streamlined banking experience that includes transaction optionality. With the products on offer via our digital channels, we are not only increasing our customer acquisition momentum but are also strengthening the ON ecosystem."

Adding that their continuous investment in digitalization during 2022 has proceeded without pause, zcan said, "At Burgan Bank, we track developments in technology very closely, and continue to renew and grow all our digital processes. This means we can continue to develop and expand the range of digital products and services that we provide our customers exponentially. ON has recently been awarded the best digital banking platform of the year for 2022 by Global Finance. Even though it has been less than a year since we first launched, receiving this award has spurred us on to do even better work in the future, at the same time as reassuring us that we are absolutely on the right track.

In moving towards our goals, we place the customer experience at the heart of our approach, increasing our transaction diversity and ensuring our offering is optimized with constantly evolving digital trends. In this respect, Commencis' support will be invaluable to increasing our success in digital terms, helping us to project our bank's vision and strategy to our customers even more effectively. We intend to launch a new interface for ON Mobile, one that is shaped by giving voice to what our customers want, as well as through constantly evolving digital trends, in partnership with Commencis."

Commencis CEO Firat Isbecer, commented on the partnership with Burgan Bank, "Commencis continues to play a significant role in the digital transformation of the banking sector through its proprietary products and services. Together with leading banks, we have achieved many digital transformation successes over the past 20 years. We aim to deliver a dynamic and powerful digital channel experience to Burgan Bank through a combination of our customer-oriented perspective, user experience design, and software development capabilities. We are thrilled to be afforded the opportunity to develop a long-term relationship with an innovator like Burgan Bank."

If you think you've used the wrong SWIFT code to send money, you should get in contact with your bank right away. They may be able to cancel the transaction. If it's too late to cancel, you might have to contact the recipient yourself and request that they return your money.

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Founded as Tekfen Yatrm Bankas A. in 1989, the bank changed its name to Burgan Bank A.. in January 2013 following its acquisition by the Kuwait-based Burgan Bank Group, a leading financial services provider in the Middle East and North Africa (MENA).

Thank you for raising your customer experience with us in regards to recent issues on your debit cards, firstly we regret the inconvenience caused to you. Due to the recent spate of frauds in card related transactions across the region each bank including ourselves had put in parameters in order to protect & safe guard our customers. Our endeavor has always been to protect our customers assets & ensure better customer experience.

Had my card blocked by NBK. I carried out 2 transactions, the first got through, the second one of lower value got blocked. It got screwed over anyway because I was buying a flight ticket home and was at the airport when it happened. Had to scrape clean my other accounts and borrow from my friends. I was in an embarrassing situation and frustrated, but the airline staff explained that it was a common thing. I did not flip at the bank though, since they were only doing their job.

Well my choices are embarrassing situation which I walk away from or card fraud where somebody makes an unauthorized transaction using my card, for which I will hold the bank responsible. Lengthy process of following up and eventually either the bank or me would be held liable to lose the amount due to carelessness. The bank is covering its behind by scrutinizing suspicious transactions.

I think the alternative to this is a pre paid credit card. Worst case scenario, if your card is compromised, you lose only the amount on the card.

Thank god someone complained about this on a blog because this scenario happened to me exactly but in different countries. It really made me pissed off and ruined my trip. when i came back to kuwait i went to burgan to close my account i had to wait another 45 days for them to close my account which is unheard of. Other banks in Kuwait usually open the limit on credit cards when you travel and if they feel something is going wrong with the account they usually call you for verification before freezing the card ( credit card or Knetcard). BURGAN BANKS SUCKS and the customer service need to get a reward for not knowing anything .

This procedure, while inconvenient, was for your protection, as well as the bank. 700 pounds were withdrawn from my account via ATM in London while I was in Kuwait. I complained, and the bank launched an investigation and immediately refunded all my money. For that, I put up with the hassle of having to call them every time I travel.

As we have discussed numerous of times, all banks in Kuwait are sh!t. Your value as a customer is equal to the amount of Dinars in your bank account. With so many millionaires in Kuwait, it is highly unlikely for you or any of us to be treated as a valued customers.

My mom had a bad experience with Gulf Bank, She used her card for purchase in Belgium and the bank blocked it and my mom called the bank and they said she would have to visit her branch IN PERSON in order to unblock the card, how crazy is that?!

I have lived and worked in 3 countries and tried my fair share of banks, if that counts for anything. I will therefore say this with full confidence: Burgan Bank is the worst banking institution I have ever seen, dealt with, heard of, or had the misfortune of being forced to use. In fact, they must be one of the worst commercial institutions in general, in the world (in my humble opinion).

Once you are on the Payment screen, click on Payment Options. Review the Cash at Bank section for further details. You will print your deposit slip to take to the bank. DO NOT PRINT MULTIPLE COPIES OF THE DEPOSIT SLIP. Each member of a family or group should be considered as a separate transaction. If the deposit slip expires before the date you pay at the bank, you will need to print a new slip.

Cash at Bank

You can pay your nonimmigrant visa (NIV) application fee in cash at any Burgan Bank branch, except for the airport branch. Cheques are not accepted. Before going to the bank you must print and carry the applicable U.S. deposit slip available after logging into your profile.

Take the completed fee collection slip to the bank when you pay your fee. If you print a deposit slip in advance of the day in which you plan to make your payment, take note of the expiration date on the deposit slip. If the expiration date passes prior to using the slip to make your payment, simply return to the website and click the appropriate link to generate a new deposit slip. Fee collection agents will NOT accept payments based on expired deposit slips. Be sure that you pay the exact amount indicated on the deposit slip. After receiving your payment, the cashier will give you a receipt.

On December 21, 2012, Burgan Bank K.P.S.C. acquired the shares owned by Eurobank EFG and Tekfen Holding and became the main shareholder with a 99.26% share and the title of the bank was changed as Burgan Bank A.. on January 28, 2013. 9af72c28ce