Burgan Bank, Kuwait's second largest conventional bank by assets, said  the Central Bank of Iraq has approved the sale of its 51.8% stake in Bank of Baghdad to Jordan Kuwait Bank.

Completion of the deal is subject to the fulfillment of legal documents and the requirements of the Iraq Stock Exchange, Burgan Bank said in a filing on Boursa Kuwait.

Established in 1977, Burgan Bank has a significant focus on the corporate and financial institutions sectors and has a growing retail and private bank customer base.

(Writing by Seban Scaria; editing by Daniel Luiz)
(seban.scaria@lseg.com)