Burgan Bank, a legacy of sustainable development, dynamic growth
Fadel Mahmoud Abdullah, CEO, Burgan Bank
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“Our entire approach is centered around positioning Burgan as the most progressive bank in Kuwait,” said Fadel Mahmoud Abdullah, CEO of Burgan Bank, while emphasizing the bank’s focus on continuous evolution, and delivering value to its stakeholders.
Abdullah’s comments came during an exclusive interview with The Business Year, in which he highlighted the bank’s strategy of strengthening core operations in Kuwait by expanding its corporate client portfolio and retail market share, while enhancing private banking services.
The CEO of Burgan, one of the largest and most well-established banks in Kuwait’s banking sector, also revealed that the bank was planning on further boosting its network of branches to better meet the needs of customers. We began the interview by asking Abdullah:
What core values are at the heart of Burgan Bank’s corporate culture, and how do they influence its relationships with customers, employees, and the community?
“As an organization, we seek to foster a culture of constant evolution and the collective pursuit of excellence. From ownership, transparency, teamwork, and passion comes our incentive to deliver exceptional value to our stakeholders. We are exerting concerted efforts to initiate a long-term transformation plan that ultimately seeks to elevate every facet of our business; leveraging our legacy and brand equity, and fostering our human connectivity, to strengthen our business proposition.”
Could you elaborate on the core activities that underpin Burgan Bank’s business model and growth strategy?
“In 2023, we rolled out a brand-new vision and strategy, which seeks to build on a decades-long legacy that focuses on achieving sustainable development and dynamic growth across our entire operation. Our vision recognizes that in today’s market and ever-changing economic climate, transformation and proactivity have become musts for any successful business. That is why our entire approach is centered around positioning Burgan as the most progressive bank in Kuwait, constantly in forward motion.
“As a group, we have long maintained a robust regional presence through our network of affiliates and subsidiaries, but today we are focused primarily on strengthening our core Kuwait business. This includes growing and diversifying our corporate client portfolio; expanding our retail market share; building the best-in-class private banking and wealth management facilities; strengthening our liquidity and risk profile; and elevating our quality of service and products portfolio.”
What innovative banking technologies has Burgan Bank adopted or developed to improve customer experience and operational efficiency?
“We all know that the banking world has gone digital, with fervor. Our digital strategy has been a central component of our overall business plan, but the key driver has been evolving the overall customer journey. We have not restricted our digital transformation efforts to a single department, but have worked to embed digital transformation and the digital-first mindset in the work philosophy that guides our entire team. We are taking a holistic approach to make the Burgan banking experience seamlessly mobile, conveniently personalized, and smart-solution-driven.
“We seek to interweave digital transformation with our ESG commitments to deliver an inclusive, modern experience. We were proudly the first in the market to introduce biodegradable and braille-friendly debit cards to facilitate transactions for visually impaired customers. We were also the first bank in the region to implement a Visa solution allowing cardholders to easily enroll in multiple digital wallets and eCommerce merchants within their mobile banking app.”
Could you walk us through the key elements of Burgan Bank’s sustainability strategy and how they align with Kuwait’s Vision 2035?
“Our sustainability commitment has long been a core part of our strategy. In 2023, we instituted a dedicated framework and roadmap for implementing our ESG efforts and took major steps forward in the implementation of that framework. One of our most important ESG undertakings in the past year focused on acquiring the LEED certification for Burgan’s head office building in Kuwait, a certification that verifies compliance with sustainability standards in architecture.
“We also continued to roll out an expansive program of ESG best practices within our organization, promoting positive operational and behavioral change. Moreover, on our mission to serve customers in an ever-more sustainable manner, we introduced several digital products and services that primarily aim to reduce Burgan’s operational carbon footprint.
“Among these digital initiatives launched in 2023 was the introduction of a virtual card: an eco-friendly alternative that combines the security and utility of traditional bank cards with the convenience and versatility of a digital experience. We continue to embed sustainability in all aspects of our business model, ensuring it remains a bedrock for all our efforts, from retail to human capital development to social responsibility.”
Bio:
Fadel Mahmoud Abdullah will play an integral role in designing, implementing, and steering the new strategic direction of the bank in the coming years to enhance its market share in Kuwait and help drive higher profitability. He brings 34 years of HR, finance, investment, and corporate banking experience to his new appointment. He has held multiple key leadership roles during his 25-year long career with Burgan Bank since 1998. Abdullah holds a bachelor of science degree in mathematics from Kuwait University.
