Business & Money | Friday 30 October, 2015 2:31 am |

Gulf International Bank (GIB) announced that, in line with its strategy to be a pan-GCC universal bank, it will be inaugurating the opening of its Abu Dhabi wholesale banking branch. 

The Abu Dhabi office will build on the bank’s 40 years of experience in the financial sector to leverage the bank’s capabilities, and better service its commercial and corporate customers in the UAE. 

The Abu Dhabi office has enjoyed continued growth since its beginnings as a GIB subsidiary in 1990, and its upgrade to a wholesale branch will launch an active franchise in the GCC. The establishment of the Abu Dhabi branch is a result of the increased demand for GIB’s financial solutions and bespoke products and services for customers in the UAE.  

GIB CEO Dr. Yahya Alyahya said: “The latest expansion of the GIB network is a testament to the continued support of its shareholders’ and their confidence in GIB’s banking model, to deliver sustained growth and robust performance.”

Earlier this year GIB was named the “Best Equities Bank in the Middle East” and “Best Investment Bank in Bahrain” by New York based Global Finance magazine. 

For its efforts in developing asset management products for Saudi Arabia and the bank’s wider client base, GIB was also named the “Fastest Growing Asset Management Bank, Saudi Arabia” by Global Banking and Finance Review. 

Dr. Alyahya added, “In acknowledgement of the challenging geopolitical environment, GIB continues to evolve with confidence and determination. We are committed to the GCC market and will invest in our products and services to deliver a superior customer experience.”  

GIB is owned by the six Gulf Cooperation Council countries. Saudi Arabia’s Public Investment Fund being the major shareholder. 

Gulf International Bank (GIB) is a pan-GCC universal bank that specializes in corporate and investment banking and has a growing retail footprint. In addition to its main subsidiaries, London-based Gulf International Bank (UK) Ltd., and Riyadh-based GIB Capital LLC, it has branches in London, New York, Abu Dhabi, Dhahran, Riyadh and Jeddah with representative offices in Dubai and Beirut.