Gulf Bank is Kuwait’s second largest commercial bank.  Established in 1960, Gulf Bank has since progressed to becoming an industry-leading financial services provider complemented by a large network of 44 branches strategically positioned in key locations in Kuwait.  The main groups of the Bank are Retail, Corporate, Treasury and International Banking.

The quality and commitment of the Gulf Bank team received international recognition in 2008, achieving awards from leading international financial magazine Global Finance for being Best Bank in Kuwait for the second year in a row and Best Foreign Exchange Bank, while also being recognized as Best Bank of the Year from well-known regional magazine Arabian Business and awarded Best Retail Bank in the Middle East for the 4th consecutive year from Banker Middle East.  In 2007, Gulf Bank Best Internet Bank from Global Finance and Best Retail Bank in Kuwait from Asian Banker magazine.

Gulf Bank routinely surpasses its competition by focusing on one simple strategy: delivering superior customer satisfaction. The Bank has established its leadership position in the Kuwait banking community through its innovative Transformation and Actualization Strategies that have been the driving force behind its remarkable success since 1999.

Gulf Bank has been internationally recognised as a leading Kuwaiti employer and holds the Localization Award from the GCC Council of Ministers for Social Affairs and Labour for the third consecutive year.  The Bank became the first Kuwaiti company to be awarded a coveted Stevie International Business Award for the best HR team in 2006 thus leading to the Middle East Outstanding Contribution to HR award received in 2007. 

Gulf Bank is one of the highest rated banks in the region. It is one of only seven banks in the GCC assigned an ‘Aa3’ long-term foreign currency deposit rating from Moody’s Investors Service and enjoys strong ratings from Fitch Rating and Capital Intelligence (‘A+’) and Standard & Poor’s (‘A-’).

Gulf Bank maintains a distinctive profile in Kuwait’s retail banking environment through its innovative Salary campaigns and Al Danah customer prize draws. In 2007, Gulf Bank introduced the  Al Danah One Million Dinar Draw, the biggest single draw prize ever offered in the Middle East with the campaign continuing in  2008 and the second KD 1million draw to be held on the 31st of July.

Gulf Bank’s branch concept design is strongly inspired by Kuwait’s seafaring heritage. Most of the existing branches have been refurbished and new branches built to reflect the traditional seafaring legacy as well as provide an attractive and efficient banking experience using sleek and contemporary architectural designs.

The décor of the customer area and furnishings have been specially designed in the shape of a dhow and fitted with complementary accessories matching the intrinsic nautical theme. Gulf Bank’s commitment to continual innovation and offering the best retail banking environment for its customers has been recognized, in early 2008, by the region’s leading banking industry magazine Banker Middle East with the award for the ‘Best Branch Concept Design & Environment in the Middle East’.

The 24/7 Self Service area in the new branches have been further improved by the provision of cash deposit machines that complement the existing services such as Internet banking, cash withdrawals and access to customer service agents 24/7 throughout the year.

 The criteria for selecting Gulf Bank as the winner in Kuwait included growth in assets, profitability, strategic partnerships, customer services, competitive pricing and innovative products.

 This is the latest of a number of awards that Gulf Bank has received from Global Finance – in 2007 it was named as the ‘Best Bank in Kuwait’, ‘Best Consumer Internet Bank in Kuwait’ and ‘Best Foreign Exchange Bank in Kuwait’ in early 2008.

 Commenting on the award, Mr. Bassam Y. Alghanim, Chairman & Managing Director said: “An international award like this provides global recognition for the quality of the services we deliver and the way that Gulf Bank is a leader in the financial services sector in Kuwait. We are very proud to be identified as a leader in the emerging markets that are increasingly important to the growth and continued prosperity of the global economy.”

 CEO Louis Myers added: “The award is also recognition and just reward for the outstanding work done by our staff who deliver the highest quality banking services to our customers across our network of 43 branches throughout Kuwait.”

This is the 15th year that Global Finance has selected top banking performers in emerging markets.  Publisher Joseph D. Giarraputo commented: “Emerging markets are attracting increased attention as the global economy expands. We have identified banks such as Gulf Bank that provide services to corporations seeking to take advantage of substantial opportunities for growth in a sometimes challenging environment.”

 Global Finance has more than 250,000 readers in more than 158 countries and is an authoritative source of information for CEOs, CFOs, Treasurers and other financial officers responsible for making investments and strategic business decisions for global companies and financial institutions.