24/08/2026 04:08 AST
Marking an important milestone in the Bank's continued progress toward stronger sustainability and responsible banking practices, Burgan Bank announced that MSCI has upgraded the Bank's ESG Rating from BB to BBB.
The upgrade provides independent external recognition of Burgan Bank's evolving Environmental, Social, and Governance (ESG) capabilities, reflecting progress in areas including governance, sustainability disclosures, risk management, and the integration of ESG considerations into the Bank's broader strategy and decision-making. MSCI ESG Ratings are widely used by institutional investors to assess how companies are exposed to, and manage, environmental, social and governance-related risks and opportunities. By providing an independent benchmark against global peers, the rating offers investors and other market participants a clearer view of a company's ESG performance and resilience.
For Burgan Bank, the move to a BBB rating reflects the growing maturity of the Bank's approach to sustainability and the continued integration of responsible business practices across the organization.
Commenting on the achievement, Fadel Abdullah, Chief Executive Officer - Kuwait at Burgan Bank, said: "The upgrade of Burgan Bank's MSCI ESG Rating to BBB is an important external validation of the progress we have made in embedding sustainability into the way we operate and create long-term value. It demonstrates the growing maturity of our ESG capabilities and their increasing alignment with the expectations of global investors and other stakeholders.
"More importantly, this milestone reflects the strength of our governance, disciplined approach to risk management, and commitment to responsible growth. As stakeholder expectations continue to evolve, we remain focused on strengthening our ESG capabilities further while delivering sustainable financial performance and sustainable value for all our stakeholders."
The rating upgrade builds on the Bank's sustained efforts to strengthen ESG governance, enhance transparency and promote greater accountability across its operations. These efforts are supported by a structured sustainability framework that integrates environmental, social, and governance considerations across the organization.
Burgan Bank continues to solidify its responsible banking practices by strengthening governance standards, improving ESG disclosures, and incorporating sustainability considerations into its lending, business and risk management activities. The Bank has published annual Sustainability Reports since 2019, aligned with recognized international reporting frameworks, reinforcing its commitment to transparency and accountability.
The improved MSCI ESG Rating reinforces the Bank's position as a resilient, responsible and future-focused financial institution. Looking ahead, Burgan Bank remains committed to enhancing its sustainability agenda in line with international best practices, balancing financial performance with responsible business practices and creating long-term value for its customers, shareholders, employees and the wider community.
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.
Kuwait Times
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