The Gulf International Bank (GIB) will officially open a branch in Saudi Arabia early next month, reported the Saudi official news agency (SPA), quoting Minister of Finance and National Economy, Ibrahim Al-Assaf as announcing.
In a statement published by the Jeddah-based Arab News on Tuesday, the minister said the opening of the branch would enhance the bank's role in the Saudi market.
He added that this would also promote competition among the banks in the interest of the clients.
Saudi Arabia holds the biggest stake in the bank, which already has opened its branch in Bahrain, according to SPA - Albawaba.com
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