Gulf Bank celebrates its 55th anniversary

Proud to serve Kuwait Thanks to all who are and have been part of the Gulf Bank family

KUWAIT: Gulf Bank is happy to celebrate its 55th anniversary. On 23 November 1960, His Highness Abdullah Salem Al-Sabah, The Amir of Kuwait, signed Amiri Decree No (44) recognizing Gulf Bank as a shareholding company. Days later, on 27 November 1961, the founding decree was published in the official government newspaper “Kuwait Alyoum”.

The Bank was founded by a group of twelve merchants and has grown to become one of Kuwait’s largest financial institutions today. The Bank’s first Board of Directors in 1961 was comprised of: Chairman - Khaled Al Yusuf Al-Mutawa; Vice Chairman - Ali Abdulrahman Al-Bahar; Delegate member Abdulaziz Al-Saleh; Ahmad Bazea Al-Yassin; Abdulwahab Abdulaziz Al-Qatami; Abdulaziz Abdulmohsen Al-Rashed; Abdulwahab AlKhalifa Al-Shaheen Al-Ghanim; Dawoud Musaad Al-Saleh; Khalid Fulaij Al-Ali Al-Fulaij; Mustafa Sultan Al-Essa; Abdullatif Abdullah Al Mehri; and Jassem Mohammed Al-Wazzan.

Once Gulf Bank was founded it commenced business operations in a rented flat on Fahad Al-Salem Street in Kuwait City with a total of 50 employees and a capital of 24 million rupees, equivalent to KD 1.8 million ($ 6 million). The Bank received permission from the Kuwait municipality in 1961, to construct its headquarters and was initially granted permission to build up to four floors and an optional basement. Over the years, additional floors were constructed in the headquarters, but care was taken to maintain the original architecture and design of the building whereby maintaining its historic look and keeping to its early roots. The Bank’s Headquarters is considered to be one of Kuwait City’s landmarks.

The Bank’s logo and branch concept design is strongly inspired by Kuwait’s seafaring heritage. The decor of the customer area and furnishings have been specially designed in the shape of a dhow and fitted with complementary accessories matching the intrinsic nautical theme. Customers entering the branch experience the warmth and spirit of true Kuwaiti heritage coupled with an efficient and high-quality banking service environment, as well as exceptional customer service. Gulf Bank currently has a network of 56 branches strategically positioned in key locations in Kuwait, including its Headquarters (Mubarak Al-Kabeer branch).

Gulf Bank has contributed to serving the country’s increasing developmental requirements, and has become an industry leading banking services provider. Under the strategic direction of its Chairman Omar Kutayba Alghanim and its dedicated board of directors the Bank continues to grow, expand, and innovate in order to better serve our valued customers. Gulf Bank expresses its gratitude and appreciation to all those who, over the years, have been part of the Gulf Bank family and worked to help the Bank achieve success.