Gulf Bank named Best Bank in Kuwait by Global Finance

Published April 15th, 2007 - 12:24 GMT

Global Finance, the world’s most influential finance publication, has named Gulf Bank as Best Bank in Kuwait in 2007 in its exclusive World’s Best Banks Awards survey.

Gulf Bank is one of 83 Best Banks in Emerging Markets to be named in a special May 2007 edition of Global Finance. The Best Bank Award was judged by Global Finance editors with input from industry analysts, corporate executives and banking consultants.
Gulf Bank was chosen as Best Bank in Kuwait on the basis of its profitability, customer service, asset growth, competitive pricing and product innovation.
“This award is well-deserved recognition of Gulf Bank’s remarkable success,” commented Mr. Bassam Yusuf Alghanim, Chairman and Managing Director of Gulf Bank. “Gulf Bank is Kuwait’s fastest-growing bank with seven consecutive years of record growth and profitability.
“Gulf Bank a market leader in product and service innovation and is an award-winning Kuwaiti employer. The Bank has grown to exceed KD 4 billion in assets and is one of the highest-rated banks in the region, reflecting the strength of its financial performance.

“The Global Finance Best Bank Award demonstrates the progress Gulf Bank has made in becoming Kuwait’s preferred local bank,” Mr. Alghanim said.

Gulf Bank will be presented with the ‘Best Bank in Kuwait’ trophy by the President of Global Finance at an awards ceremony during the IMF/World Bank meetings in Washington DC later this year. The awards ceremony will be attended by Central Bank Governors, Finance Ministers and senior banking executives from around the world.
“This award is only presented to a select few banks in the world,” said Mr. Lou Myers, CEO and Chief General Manager of Gulf Bank. “The Bank is setting new standards of excellence in service and performance and the Global Finance Best Bank Award is a tribute to the Board, management and all the staff of Gulf Bank.”

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.

About Gulf Bank
Gulf Bank is Kuwait’s second largest and fastest growing commercial bank.  Established in 1960, Gulf Bank has since progressed to becoming an industry-leading financial services provider complemented by a large network of 38 branches strategically positioned in key locations in Kuwait for the banking convenience of customers.
Gulf Bank – awarded ‘Best Retail Bank in the Middle East’ in 2005 and 2006 by Banker Middle East – routinely surpasses its competition by focusing on one simple strategy: delivering superior customer satisfaction. Gulf Bank has consistently delivered strong financial results in a highly competitive market environment reflecting its well focused and effective business strategies.
The Bank continues to grow and evolve its leadership position within the Kuwait banking community as a result of its innovative Transformation and Actualization Strategies that have been the driving force behind its management, operations and remarkable success since 1999.
The main businesses of the bank are Retail Banking, Corporate Banking, Treasury, International Banking and Investment Management.



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