Gulf International Bank

Overview

Gulf International Bank (GIB) is Bahraini wholesale + retail commercial bank + Public Investment Fund PIF Saudi sovereign wealth fund ~97%+ controlling post-Oct 7 2018 GIB nationalization + one of MENA's largest wholesale commercial banks + meem Saudi digital bank subsidiary [1, bh-cro].

History

1975 — Gulf International Bank GIB founded as Bahraini wholesale + retail commercial bank by Gulf Cooperation Council GCC oil-exporting Arab states consortium distinctive Bahraini + MENA wholesale banking heritage.

Oct 2014 — meem by GIB Saudi digital bank launched as MENA's first digital-only Sharia-compliant retail bank.

Oct 7 2018 — Public Investment Fund PIF Saudi sovereign wealth fund acquires ~97%+ controlling stake in GIB consolidating Saudi state-backed wholesale banking ownership.

Ownership & operator

Operating entity: Gulf International Bank GIB (Bahraini wholesale + retail commercial bank; PIF Saudi sovereign wealth fund controlling).

Major shareholders: Public Investment Fund PIF (Saudi sovereign wealth fund) ~97%+ controlling post-Oct 7 2018 GIB nationalization + Kuwait Investment Authority KIA minority + Bahraini retail + institutional + foreign investors free float.

Regulators: CBB Central Bank of Bahrain + SAMA Saudi Central Bank + national regulators across 5+ countries.

Technical integration

meem by GIB Saudi digital bank mobile app (iOS + Android) + gib.com online + GIB branch network across Bahrain + Saudi Arabia + UAE + UK + US + GIB Visa + Mastercard cards; BH IBAN + Benefit BH + SA IBAN + SARIE.

Implementations & partners

GIB subsidiaries: [[meem-by-gib]] (meem by GIB; Saudi digital bank by Gulf International Bank; MENA's first digital-only Sharia-compliant retail bank).

Major Bahraini + MENA banking + payments competitors: [[nbb-bank]] (National Bank of Bahrain NBB; Bahrain Bourse: NBB; Bahrain's largest commercial bank by assets) + [[ahli-united-bank-bahrain]] (Ahli United Bank AUB; Bahrain Bourse: AUB; Kuwait Finance House KFH Kuwaiti parent ~96.7% controlling) + [[arab-banking-corporation]] (Arab Banking Corporation Bank ABC; Bahrain Bourse: BANB; Bahraini international commercial banking group) + [[albaraka-bahrain]] (Al Baraka Banking Group ABG; Bahrain Bourse: BARKA; Bahraini Islamic banking group) + [[saudi-national-bank]] (Saudi National Bank SNB; Tadawul: 1180; Saudi Arabia's largest commercial bank by assets).

Regulators: CBB Central Bank of Bahrain + SAMA Saudi Central Bank + national regulators across 5+ countries.

Status

Active, Bahraini wholesale + retail commercial bank + Public Investment Fund PIF Saudi sovereign wealth fund ~97%+ controlling post-Oct 7 2018 GIB nationalization + one of MENA's largest wholesale commercial banks + meem Saudi digital bank subsidiary [1, 2].

Sources

• 1 GIB — official
• 2 GIB — Wikipedia
• bh-cro In-corpus: reports/countries/BH-bahrain.md

Source

Biography extracted from gulf-international-bank.md. See matrix.md for standards-support matrix if present.