Gulf International Bank (GIB) - KSA

In April 2019 Gulf International Bank - Saudi Arabia (Saudi Arabia (GIB Saudi Arabia) was formed by the conversion of Gulf International Bank’s existing branches in the Kingdom, which have been operating for 20 years in Saudi Arabia, into a locally incorporated bank. GIB Saudi Arabia is the first foreign domiciled bank to establish a local commercial bank in the Kingdom following approval from the Saudi Council of Ministers in May 2017. It is headquartered in Eastern Province and operates branches in Dhahran, Riyadh and Jeddah, with the Bank’s investment banking activities delivered by its sister organisation GIB Capital, based in Riyadh. GIB Saudi Arabia aims to be the preferred financial services partner, delivering bespoke banking solutions to a wide customer base in the Kingdom of Saudi Arabia and beyond. This includes wholesale and investment banking, asset management and retail banking. In 2015 the Bank launched ‘meem’ the world’s first Shariah compliant digital bank, in Saudi Arabia, providing the market with innovative and comprehensive products for retail customers. GIB Saudi Arabia is owned equally by the Saudi Public Investment Fund (PIF) and Gulf International Bank BSC with a paid-up capital of SR7.5 billion and a strategy to further strengthen and build the Bank’s presence and levels of service in the important Saudi market.