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.[2] It is licensed by the Central Bank of Bahrain and is headquartered in Manama in Bahrain.[3]

Gulf International Bank B.S.C. (GIB) [1]
TypeS.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.[4] 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.[4]

Our funding profile continues to strengthen, with growing access to stable and less costly funding through meem digital banking, and the global transaction banking business. Customer deposits increased 16 per cent to US$21.2 billion, constituting 96 per cent of total deposits, and exceeding loans and advances by more than 2 times. At the end of 2019, the Group’s Net Stable Funding Ratio (NSFR) stood at a particularly high 163 per cent compared to the Central Bank of Bahrain’s mandated regulatory minimum of 100 per cent. This strong ratio reflected the high level of stable funding maintained by each entity within the GIB Group. Stable funding was enhanced by senior term finance of US$3.5 billion at the 2019 year end. [5]


Operations, subsidiaries and shareholders

Gulf International Bank B.S.C. (GIB) is a pan GCC universal bank established in 1975 and regulated by the Central Bank of Bahrain. GIB offers a diverse range of financial products and services and bespoke banking solutions to a wide customer base in the GCC, Europe and North America. This includes corporate banking, the world’s first Shariah compliant digital retail banking service, meem, as well as investment banking spanning asset management, bond and sukuk issuance, financial restructuring, private placements, private sale, IPOs, underwriting equity and debt, and mergers and acquisitions. GIB’s services are delivered across the GCC and international markets through its subsidiaries: GIB Saudi Arabia, GIB Capital and GIB (UK) Ltd. Additionally, the Bank has branches in the UAE and USA. GIB Saudi Arabia is the first foreign domiciled bank to establish a local commercial bank in the Kingdom. It is headquartered in Eastern Province and operates branches in Riyadh, Jeddah and Dhahran, while the Bank’s investment banking activities are delivered by GIB Capital, based in Riyadh. GIB (UK) Ltd is a London and New York based international asset management subsidiary. GIB is owned by the governments of the Gulf Cooperation Council countries, with Saudi Arabia’s Public Investment Fund being the primary shareholder. [6]

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.[7] The bank also has branches in London, New York, Abu Dhabi, Dhahran, Riyadh and Jeddah with a representative office in Dubai.[8]

In 2017 GIB licensed to become a local bank in Saudi Arabia.[9]

Board of Directors
  • Dr. Abdullah bin Hassan Alabdulgader – Chairman of the board[10]
  • Mr. Abdulla bin Mohammed Al Zamil – Vice Chairman [11]
  • Mr. Abdulaziz bin Abdulrahman Al-Helaissi – Director, Group Chief Executive Officer,

Gulf International Bank Chairman, Gulf International Bank (UK) Limited [12]

  • Mr. Sultan bin Abdul Malek Al-Sheikh – Director [13]
  • Mr. Bander bin Abdulrahman bin Mogren — Director [14]
  • Dr. Najem bin Abdulla Al Zaid — Director [15]
  • Mr. Rajeev Kakar — Director [16]
  • Mr. Frank Schwab — Director [17]

References
  1. https://www.gib.com/sites/default/files/gib_annual_report_2019_e_0.pdf
  2. Robin Wigglesworth (23 March 2009). "Arab states bail out". Financial Times.
  3. "GIB: Company Overview". GIBonline.
  4. "Company Overview of Gulf International Bank B.S.C." Bloomberg.
  5. https://www.gib.com/sites/default/files/gib_annual_report_2019_e_0.pdf
  6. https://www.gib.com/sites/default/files/gib_annual_report_2019_e_0.pdf
  7. "Saudi International Bank Changes Name after Merger". Al Bawaba. 18 September 2000. Retrieved 31 August 2013.
  8. "GIB Profile". Gibonline. 30 July 2012.
  10. "GIB: Board of Directors". Gibonline.
  11. https://www.gib.com/sites/default/files/gib_annual_report_2019_e_0.pdf
  12. https://www.gib.com/sites/default/files/gib_annual_report_2019_e_0.pdf
  13. https://www.gib.com/sites/default/files/gib_annual_report_2019_e_0.pdf
  14. https://www.gib.com/sites/default/files/gib_annual_report_2019_e_0.pdf
  15. https://www.gib.com/sites/default/files/gib_annual_report_2019_e_0.pdf
  16. https://www.gib.com/sites/default/files/gib_annual_report_2019_e_0.pdf
  17. https://www.gib.com/sites/default/files/gib_annual_report_2019_e_0.pdf
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