Gulf Bank was established on November 23, 1960, when The Amir of Kuwait, signed Amiri Decree No. (44) recognizing Gulf Bank as a shareholding company. Founded by a group of twelve merchants, Gulf Bank has since grown to become one of the largest financial institutions in Kuwait today. After its founding, Gulf Bank commenced business operations in a rented flat on Fahad Al-Salem Street in the heart of Kuwait City with a total of 50 employees and a capital of 24 million rupees, equivalent to KD 1.8 million (USD 6 million).
Once Gulf Bank obtained permission to commence building its Head Office in 1961, the Bank hired architect Jean-Robert Delb, who was awarded the Deuxième Prix de Rome in 1957. Delb was appointed to design Gulf Bank’s Head Office, consisting of nine floors above ground and two in the basement. Among the main elements of the building’s design are pre-moulded concrete elements that form the building’s facade as well as reduce its exposure to sunlight, shading the offices inside. The building also houses an outdoor pergola with faceted columns on the ground floor. The design takes advantage of the plot's rectangular shape and is organised around a central, triple-height hall which is used as the main reception space for customers. Today, Gulf Bank's Head Office is considered one of Kuwait City's most notable landmarks.
Today, Gulf Bank is one of the leading conventional banks in Kuwait with KD 7.2 billion in total assets as of 31 December 2023 and provides a wide range of services including consumer banking, wholesale banking, treasury, and financial services through its large network of over 50 branches and over 300 ATMs. The Bank remains an ‘A’ rated bank from three major credit rating agencies.
Gulf Bank is also committed to maintaining a robust sustainability program which consists of three pillars: social sustainability, economic sustainability, and environmental sustainability. Every year, Gulf Bank strategically selects sustainability initiatives that help the Bank serve its local communities, and demonstrate the Bank’s larger commitment to our beloved Kuwait.
| Agency | Credit Rating | 2023 |
|---|---|---|
|
Long Term Deposit Rating
Outlook |
A3 |
|
Long Term Issuer Default Outlook |
A |
|
Long Term Foreign Currency Outlook |
A+ |
Strategy 2025
VISION & MISSION
Vision
To be the leading Kuwaiti bank of the future.
Mission
To provide customers with simple and innovative services, in order to enable sustainable growth.
CORE VALUES
Ambitious
We are ambitious in meeting the challenges of the future, and in providing the best banking solutions.
People
We engage, empower and develop our people in order to provide customer excellence and to serve the community.
Ownership
We individually take ownership before we hold anyone else accountable, we stand up to our challenges and support each other as one family.
Simple
We strive to remove unnecessary complexities in our processes to make banking enjoyable for our customers. Solutions that are simple, efficient and elegant.