The assembly was held yesterday with an attendance quorum of 83.567%
launches-risk-and-cyber-awareness-week/”>Burgan Bank (“the Bank”) held its 38th Extraordinary General Assembly on Saturday, November 15, 2025, at the bank’s headquarters, with a 83.567% quorum.
The Extraordinary General Assembly approved the Board of Directors’ proposal to increase Burgan Bank’s authorized capital from KD 400 million (divided into 4 billion shares of 100 fils each), to KD 600 million, (divided into 6 billion shares of 100 fils each), representing an overall increase of KD 200 million (2 billion shares of 100 fils each). This resolution was adopted following the receipt of necessary approvals from the relevant regulatory authorities.
This strategic step reinforces Burgan Bank’s financial capacity and provides the flexibility required to support future growth plans, maintain robust capital adequacy ratios, and ensure continued compliance with regulatory requirements.
The Extraordinary General Assembly also approved the external auditor’s report on this matter, as well as approved amending Article (6) of the Articles of Association and Article (5) of the Bank’s Bylaws to set the Company’s authorized capital at KD 600 million, divided into 6 billion shares with a par value of 100 fils per share.
On this occasion, Mr. Faisal M. Sarkhou, Vice Chairman at Burgan Bank, said: “The Extraordinary General Assembly’s approval of the increase in authorized capital marks a significant milestone in strengthening the Bank’s financial foundation and readiness for future growth. This amendment provides the Board of Directors with the necessary flexibility to manage the issued capital in a way that ensures maintaining capital adequacy levels in accordance with required regulatory standards. It also enhances the Bank’s readiness to keep pace with market opportunities and achieve its expansion goals.”
Mr. Sarkhou added: “This decision reflects Burgan Bank’s continued commitment to strengthening its financial position and enhancing its operational flexibility. It also reflects the great confidence that shareholders have put forth in the Bank’s strategies and future plans. We are committed to investing in fortifying operational performance and developing innovative banking solutions that contribute to creating sustainable value for all stakeholders and support Burgan Bank’s position as a pillar of trust and growth in the local and regional markets.”
Furthermore, the Extraordinary General Assembly approved adding a share premium to the nominal value of any shares issued within the limits of the authorized capital, due to future increase in the Bank’s issued capital – apart from an increase for the purpose of distributing shares as a free bonus to shareholders. The Board of Directors was also authorized to determine the value of the share premium to be collected with each increase in issued capital within the limits of the authorized capital, provided the calculation of the share premium takes into account the controls stipulated in the executive regulations of the corporate law, and after obtaining the approvals of relevant authorities.
Lastly, the Extraordinary General Assembly approved that any future increase in the Bank’s issued capital—within the limits of the authorized capital after its amendment—shall be carried out in accordance with the methods of capital subscription stipulated in the Companies Law, its Executive Regulations, and the related decisions. The Board of Directors was also authorized to determine the method, timing, and conditions of each future increase in the Bank’s issued capital within the limits of the authorized capital.