Latest news with #GulfBank
Zawya
3 hours ago
- Business
- Zawya
Gulf Bank offers Ayadi service at branches and ITMs with new mobile app features for Eid Al-Adha
In celebration of Eid Al-Adha and to enhance the customer experience, Gulf Bank is proud to offer the traditional 'Ayadi' service at all its branches across Kuwait (excluding the Airport branch), as well as through its Interactive Teller Machines (ITMs). The Bank has made the 'Ayadi' service available at most of its branches across key locations in Kuwait, including its Head Office on Mubarak Al-Kabeer Street, Crystal Tower, Al-Adan, Salmiya, Jabriya, Fahaheel Xcite, Kuwait International Airport (Terminal 1), Mishref, Al-Shaab, Al-Fanar Mall, Abdullah Al-Salem Residential Area, and Sabah Al-Ahmad Branch. This service enables customers to withdraw new banknotes in denominations of KD 20, KD 10, KD 5, and KD 1, as well as KD 0.250 and KD 0.500, from various branches. Additionally, the first four denominations are available through Interactive Teller Machines (ITMs) to meet the high demand for new currency during Eid celebrations. Additionally, Gulf Bank provides its customers with the 'WAMD' and 'Pay Link' services via its mobile app, accessible both from the app's home screen and within its menu, offering a simple and convenient user experience. The Bank has also introduced the 'Eidiya' feature, allowing users to send Eid money to as many as five people in a single transaction, starting from the first day of Eid. Gulf Bank aims to be Kuwait's leading bank, fostering a diverse and inclusive workplace to deliver exceptional customer service while contributing sustainably to the community. Through its extensive branch network and innovative digital services, the Bank empowers customers to conduct banking transactions conveniently and efficiently, ensuring a seamless experience. In alignment with Kuwait Vision 2035, "New Kuwait," and its commitment to fostering collaborative partnerships, Gulf Bank is dedicated to driving robust sustainability initiatives across environmental, social, and governance (ESG) dimensions. The Bank is committed to implementing strategically selected and diverse sustainability programs both internally and externally.
Kuwait Times
3 days ago
- Business
- Kuwait Times
Gulf Bank launches ‘Start Smart' campaign for Kuwaitis: Cash gift of up to KD 1,200
Exclusive benefits for salary transfers KUWAIT: Gulf Bank has rolled out an exclusive offer for Kuwaiti citizens under the slogan 'Start Smart.' As part of this campaign, customers who transfer their salaries to Gulf Bank can receive a cash gift of up to KD 1,200, along with a variety of benefits aimed at unlocking new opportunities and supporting them in achieving their goals, step by step. Gulf Bank salary account holders will enjoy a comprehensive suite of benefits, including automatic enrollment in Kuwait's fastest rewards program, which allows them to redeem points for cash, book flights, hotels, and car rentals, as well as shop through one of the region's pioneering bank-exclusive e-commerce platforms. The offer also features exclusive discounts at leading car dealerships, including 0 percent interest on select vehicles. Eligible customers can apply for a personal loan of up to KD 25,000 repayable over five years, as well as a housing loan of up to KD 70,000 with a repayment period of up to 15 years. Additionally, the offer features a one-year safe deposit box rental and a lifetime credit card. This offer is available to Kuwaiti employees in the government, semi-government, and oil sectors, as well as newly hired Kuwaitis or those transferring their salaries to Gulf Bank, provided their monthly salary exceeds KD 600. Additionally, the bank offers customized packages tailored specifically for employees of select government and semi-government institutions. Gulf Bank is committed to meeting the expectations of its salary account customers by understanding their needs and offering the most competitive benefits in the banking sector. This reflects the Bank's continuous dedication to rewarding its customers and supporting them in achieving their goals. To assist individuals interested in transferring their salaries, Gulf Bank will have a booth at Al-Kout Mall in Fahaheel from Thursday through Saturday, running until May 31, 2025. Bank representatives will be available on-site to answer questions and showcase the wide range of benefits offered to Kuwaiti salary account holders through this campaign. Customers can also open a salary account or transfer their salary in just minutes via the Gulf Bank mobile app, which ensures a seamless banking experience with straightforward processes and transparent, innovative solutions. Gulf Bank aims to be Kuwait's leading bank, fostering a diverse and inclusive workplace to deliver exceptional customer service while contributing sustainably to the community. Through its extensive branch network and innovative digital services, the Bank empowers customers to conduct banking transactions conveniently and efficiently, ensuring a seamless experience. In alignment with Kuwait Vision 2035, and its commitment to fostering collaborative partnerships, Gulf Bank is dedicated to driving robust sustainability initiatives across environmental, social and governance (ESG) dimensions. The Bank is committed to implementing strategically selected and diverse sustainability programs both internally and externally.
Zawya
5 days ago
- Business
- Zawya
Kuwait's Boubyan Bank issues mandate for USD senior unsecured 5-year sukuk
Kuwait's Boubyan Bank is looking to raise funds as it issues a mandate for a dollar-denominated senior unsecured 5-year sukuk, with a fixed rate coupon, paid semi-annually. The issuance is rated A by Fitch, in line with the lender's rating by Fitch and S&P, and A2 by Moody's. Banks tapped include Standard Chartered, HSBC, and Citi Bank, which have been appointed global coordinators on the issuance. Arab Banking Corporation, Boubyan Capital Investment Company, KFH Capital Investment Company, Warba Bank, KIB Invest, Dubai Islamic Bank, SMBC Bank International, The Islamic Corporation for the Development of the Private Sector, along with Standard Chartered, HSBC, and Citi Bank have been appointed joint lead managers. The Wakala / Murabaha structure will be issued under Boubyan's $3 billion Trust Certificate Issuance Programme and will trade on Euronext Dublin. Boubyan said the issuance will have a positive impact on its liquidity position and diversifying the sources of long-term funding. In March 2022, the lender, which is 59.9% owned by National Bank of Kuwait, issued a $500 million 5-year sukuk in a deal that was less than two times covered. More recently, Boubyan Bank was involved in merger talks with Kuwait's Gulf Bank, which was called off in January of this year following the disclosure that a major shareholder, Alghanim Trading, would divest its entire 32.7% stake in Gulf Bank to Kuwait's Warba Bank. (Writing by Bindu Rai, editing by Seban Scaria)
Yahoo
6 days ago
- Business
- Yahoo
Gulf Bank approves study on merger with Warba Bank
Gulf Bank has given the green light for a 'feasibility' study regarding a potential merger with Warba Bank. This move was confirmed in a recent board meeting held on 25 May 2025. The study is a response to a proposal from Warba Bank, which is a major shareholder in Gulf Bank, to consider the viability of combining the two entities into a single Islamic Sharia-compliant bank. The board's decision to proceed with the 'feasibility' study is part of Gulf Bank's strategy to explore opportunities for growth and enhance its position in the Islamic banking sector. The merger is expected to leverage the synergies of both banks to foster 'competitiveness' and growth. In line with regulatory compliance, Gulf Bank has informed the Central Bank of Kuwait of the board's decision and is awaiting further instructions. The bank will also obtain necessary approvals from the CBK and other regulatory bodies before engaging consultants to conduct the study, the bank said in a letter. Gulf Bank, with Kd 7.5bn in total assets as of March 31, 2025, operates over 50 branches and 300 ATMs in Kuwait. Meanwhile, Warba Bank offers a range of personal, corporate, business, and investment banking services. Warba Bank's indirect ownership of Gulf Bank comes through its purchase of Alghanim Trading Company, which led to Warba Bank holding 32.75% of Gulf Bank's capital. "Gulf Bank approves study on merger with Warba Bank " was originally created and published by Retail Banker International, a GlobalData owned brand. The information on this site has been included in good faith for general informational purposes only. It is not intended to amount to advice on which you should rely, and we give no representation, warranty or guarantee, whether express or implied as to its accuracy or completeness. You must obtain professional or specialist advice before taking, or refraining from, any action on the basis of the content on our site. Sign in to access your portfolio
Zawya
6 days ago
- Business
- Zawya
Kuwaiti lenders Gulf Bank and Warba Bank exploring potential merger
Kuwait's Gulf Bank and Warba Bank are exploring a potential merger which could lead to the creation of one of the largest Shariah compliant banks in the Gulf country. Warba Bank, which is Gulf Bank's largest shareholder with a stake of 32.75%, initiated talks for a feasibility of a potential merger between the banks, which was later approved by the Gulf Bank board. Warba Bank said the potential merger would enhance 'competitiveness in the local Islamic banking sector.' This is the third merger discussion involving Gulf Bank, with a potential merger with Kuwaiti lender Boubyan Bank called off in January following the disclosure that shareholder, Alghanim Trading, would divest its entire 32.75% stake in GBK to Kuwait's Warba Bank for 498.2 million Kuwaiti dinars ($1.61 billion). In July 2023, Gulf Bank and Al Ahli Bank of Kuwait announced they were no longer pursuing a merger, following the completion of feasibility studies by consulting companies they appointed in December 2022. A merger between Gulf Bank and Warba Bank would create the third largest financial institution after KFH and NBK, with total assets reaching KWD13 billion. The feasibility study aligns with a Fitch Ratings forecast last month, with Redmond Ramsdale, the Head of Middle East Bank Ratings and Islamic Banking, telling Zawya Islamic bank mergers and acquisitions are expected to rise in the GCC in the short to medium term, driven by the search for competitive advantage to access growth opportunities and build low-cost deposits. 'The region is over-banked, and therefore we expect consolidation to continue in all countries,' Ramsdale said. A Gulf Bank-Warba Bank merger would potentially be the second significant M&A event in the GCC involving major lenders, with the UAE's Emirates NBD initiating a mandatory cash offer in March to acquire the remaining 0.11% stake in the Dubai-listed Emirates Islamic Bank (EIB) at 11.95 UAE dirhams per share, totalling approximately 69.8 million UAE dirhams. (Writing by Bindu Rai, editing by Brinda Darasha)
