Gulf International Bank

Gulf International Bank (GIB) was established in 1976 during the first oil boom and is incorporated in the Kingdom of Bahrain as a conventional wholesale bank.[1] It is licensed by the Central Bank of Bahrain and is headquartered in Manama in Bahrain.[2]

Gulf International Bank
S.A. (corporation)
IndustryBanking
Founded1975 (1975)
HeadquartersManama, Bahrain
Key people
(Chairman)
ProductsInternational Wholesale
Commercial Banking
Universal Banking
Corporate Finance
Islamic Banking
Treasury
Asset Management
Retail Banking
Revenue US$ 296.8 Million (2011)
US$ 104.5 Million (2011)
Total assets US$ 16.78 Billion (2011)
Websitewww.gib.com
GIB headquarters in Manama, Bahrain.

Gulf International Bank, through its subsidiaries, provides its services in the Gulf Cooperation Council countries and internationally. The company offers structured financing and advisory services for corporate and institutional customers in various sectors, including oil and gas, LNG, petrochemicals, power and water, infrastructure, telecom and technology-based projects, and aircraft and ships; and underwrites and arranges limited-recourse term financing with a range of debt finance products, such as syndicated debt finance, Islamic finance, export credit, and capital markets.[3] It also provides a range of financial advisory services. In addition, the company offers asset and fund management services to the Middle East semi-governmental institutions and European financial institutions.[3]

The bank had a tough time during the recession of 2008 and 2009 and its shareholders at the time, namely the Saudi Arabian government, injected an additional $1 billion of capital to prevent the firm from going under.[1]

Operations, subsidiaries and shareholders

The Gulf International Bank is owned principally by the Public Investment Fund of Saudi Arabia, which has a 97.226% stake.[4] Two stakes of 0.730% are owned by the Kuwait Investment Authority and the Qatar Holding Company.[4] Three remaining stakes of 0.438% are each held by Bahrain Mumtalakat Holding Company, the Ministry of Finance of Oman and the Emirates Investment Authority.[4]

GIB’s main subsidiary is its UK branch, Gulf International Bank (UK) Ltd, which is based in Knightsbridge, London. The Saudi International Bank merged into this UK branch in 2000.[5] The bank also has branches in London, New York, Abu Dhabi, Dhahran, Riyadh and Jeddah with a representative office in Dubai.[6]

In 2017 GIB licensed to become a local bank in Saudi Arabia.[7]

Key personnel
  • Dr. Abdullah bin Hassan Alabdulgader – Chairman of the board[8]
  • Mr. Khaled bin Saleh Al-Mudaifer – Vice Chairman, president and CEO of Saudi Arabian Mining Company[8]
  • Mr. Abdulaziz AlHelaissi – Chief executive officer[8]
  • Dr. Yahya A. Alyahya
  • Mr. Abdulla bin Mohammed Al Zamil – Board member and CEO of Zamil Industrial Investment Company[8]
  • Mr. Omar Hadir Al-Farisi – Board member, Managing Member of Diyala Advisors LLC, USA[8]

References
  1. Robin Wigglesworth (23 March 2009). "Arab states bail out". Financial Times.
  2. "GIB: Company Overview". GIBonline.
  3. "Company Overview of Gulf International Bank B.S.C." Bloomberg.
  4. "GIB: Shareholders". Gibonline.
  5. "Saudi International Bank Changes Name after Merger". Al Bawaba. 18 September 2000. Retrieved 31 August 2013.
  6. "GIB Profile". Gibonline. 30 July 2012.
  8. "GIB: Board of Directors". Gibonline.
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