Private banking is about much more than traditional banking services of deposits and loans. In Burgan Private, it’s about offering personal one-to-one services and finding creative approaches to manage high-net-worth families’ as well as individuals’ wealth. Burgan Private is one of the leading private banks and wealth management facilities in Kuwait and the region.
By understanding its elite clientele’s needs, Burgan Private crafts its services through personalised investments as well as financial offerings to high-net-worth individuals. It also provides strong local and international alliances with excellent product ranges both on a local and an international front that have paved the way to facilitate direct and cost-effective access to international investment products that suit clients’ personal risk and reward parameters.
The excellence in Burgan Private’s services mirrors its continuous commitment to provide outstanding advice to its private banking clientele and its vision to implement international best practices; both crafted to ensure the delivery of a trusted premium private banking service. Its success has enabled it to be recognised as Kuwait’s Best Private Bank in 2007 and 2011.
Trust and excellence
Burgan Private was launched in 1999, and since then has been working to create a solid reputation for itself. One of its primary objectives is to always preserve and expand individuals’ existing wealth.
The firm provides wealth management services, investment vehicles and traditional banking services to clients from Kuwait and the local region with high net worth. This includes the provision of gold accounts, VIP flexibility and treatment, preferential terms on loans, deposits, foreign exchange transactions and other facilities through well-established domestic and international third parties. Burgan Private’s Wealth Management unit continues to offer diversified third-party funds. It maintains alliances with Swiss financial institutions that specialise in the administration of collective investment funds, limited partnerships and trusts.
Whether clients like to direct their own investments or prefer to have them actively managed, Burgan Private seeks to offer a full range of investment advisory services that work to preserve and expand individuals’ current wealth. Building on capital preservation and capital growth, Burgan Private’s services ensure that clients are offered the best and most up-to-date products and services.
Burgan Private bankers utilise their expertise in risk management to help preserve wealth and avoid losses caused by market uncertainties. By doing so, they use their local market knowledge and global accessibility to provide clients with new creative solutions to earn high returns that are centred on clients’ risk and reward profiles.
Burgan Bank Group
Burgan Private is the private banking arm of Burgan Bank Group, a subsidiary of KIPCO (Kuwait Investment Projects Company). It is a regional banking group with majority owned subsidiaries in the MENA region. The group is well positioned as a fully fledged commercial bank and has acquired a leading role in the retail, corporate, private and investment banking sectors through innovative product offers and technologically advanced delivery channels. Its subsidiaries include Gulf Bank Algeria (Algeria), Bank of Baghdad (Iraq), Jordan Kuwait Bank (Jordan) and Tunis International Bank (Tunisia).
2010 was a year of recovery for the group; restructuring the balance sheet, improving and controlling the credit costs and strengthening the core earnings were the main highlights. Burgan Bank Group has established a positive growth trajectory through 2011, and its performance positions the group among the leading banks in the region in terms of returns and growth rates.
Future outlook
Burgan Private will continue its record of excellence through sustained improvement and focus on maintaining strong relationships with clients. Customised financial advice and solutions will continue to be one of the group’s primary offerings.
The private banking group is looking to diversify its offering by adding new investment funds. These funds will be well diversified through investments in various asset classes and different geographic regions. The new investment fund offerings will aim to meet clients’ needs and goals with higher levels of service.
As Burgan Bank Group looks forward, the group will continue to focus on its customer-centric approach across all business lines to address the banking and financial priorities of customers and investors alike. Burgan Bank Group is determined to continue the year ahead with on-going fostering of its normalised revenues, exploring growth opportunities and further control of credit costs.
