United Gulf Bank B.S.C.(c) (UGB, the Bank)
Established in 1980 and operating under a conventional wholesale banking license from the Central Bank of Bahrain, UGB is the merchant banking arm of the KIPCO Group, it is a leading asset management and investment banking group headquartered in the Kingdom of Bahrain with operations across the MENA region. UGB’s proprietary investments include assets in commercial banking, real estate, private equity, and quoted securities. As of 31 December 2025, UGB’s consolidated assets under management totalled US$16.4 billion (31 December 2024: US$16.1 billion).
UGB’s core subsidiary is KAMCO Investment Company (KAMCO Invest) K.S.C.P, incorporated in Kuwait. UGB and KAMCO have a proven track record of successfully completing more than 60 investment banking transactions for clients since 2001. KAMCO provides a comprehensive range of investment products and services in asset management, investment banking, and brokerage. It has assets under management allocated across various asset classes and jurisdictions. Since its incorporation, KAMCO Invest has acted as investment banker on equity and debt capital markets and mergers and acquisitions transactions with a value exceeding US$ 48.3 billion as of 31 December 2025.
In January 2025, the shareholders of United Gulf Holding Company B.S.C. approved the transfer of their entire stake in the Bank, to Burgan Bank K.P.S.C. The final approval of the Ministry of Industry and Commerce was obtained in February 2025, following which UGB became a subsidiary of Burgan Bank K.P.S.C.
Burgan Bank K.P.S.C.
Established in 1977, Burgan Bank is a Kuwait-based conventional bank with a significant focus on the corporate and financial institution sectors. From its earliest days, the Bank has significantly sought to diversify its offering to cater to its growing retail and private banking customer base.
Burgan Bank has majority-owned subsidiaries, collectively known as the “Burgan Bank Group”, in the MENAT region. This Group is supported by one of the largest branch networks across the region and includes: Gulf Bank Algeria – AGB (Algeria), Tunis International Bank – TIB (Tunisia), Burgan Bank Turkey (Turkey) and United Gulf Bank (Bahrain). Furthermore, Burgan Bank has a presence in the UAE through its corporate office, Burgan Financial Services Limited.
The Bank has continuously improved its performance over the years, through an expanded revenue structure, diversified funding sources, and a strong capital base. The adoption of state-of-the-art services and technology has positioned it as a trendsetter in the domestic market and within the MENA region. Moreover, Burgan Bank’s brand has been built on a foundation of real values – trust, commitment, excellence, and progression – which serve as a reminder of the high standards to which the Bank always aspires. In fact, the Bank’s core philosophy of ‘Driven by You’ is the foundation on which its products and services are continuously developed.