Kuwait's second largest commercial bank, Gulf Bank, Gulf Bank (GB), ranked as one of the top five Rated Banks in the Middle East, has received the Bank of the Year Award 2002 from The Banker magazine, jointly with the National Bank of Kuwait (NBK). GB’s core earnings growth outperforming the market and with three major ratings upgrades. The bank continues to be the fastest growing Retail Bank in Kuwait.
The bank’s performance was attributed to its Transformation Program, implemented since 1999. This is the first time that Gulf Bank has received this award. The Banker recognized the bank’s investment in new technology with its 24/7 self-service lobbies, new branches and improved customer service.
The bank operates 25 branches throughout the Gulf state, and is listed on the Kuwait Stock Exchange. Since the beginning of 2002, the bank has launched three new branches—Nuzha, Daiy’a and Fahaheel, a new branch in Firdous will be opening in September. — (menareport.com)
© 2002 Mena Report (www.menareport.com)
