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Gulf International Bank

Gulf International Bank Overview

Gulf International Bank (GIB) was established in 1976 and is incorporated in Bahrain as a conventional wholesale bank.

GIB offers structured financing and advisory services for corporate and institutional customers in various sectors including oil and gas, LNG, petrochemicals, power and water, infrastructure and telecoms. It also provides a range of financial advisory services.

GIB opened its first representative office in London in 1978. In 1980 it opened a New York office, the first US branch of any Arab bank.

A Saudi branch was launched in Riyadh in 2000, when GIB became the first non-Saudi bank to be awarded a branch licence in the kingdom.

In 2014 Gulf International Bank launched retail banking services in Saudi Arabia through the establishment of its retail banking arm, Meem by GIB.

In 2024 GIB launched its wholesale banking branch in Muscat, Oman.

The bank is owned by the governments of the six GCC countries and Saudi Arabia’s Public Investment Fund, which holds a majority stake.

Gulf International Bank News

Riyadh Air credit

Startup airline Riyadh Air secures $1.3bn credit facility

Riyadh Air, the Saudi airline that is due to start operations next year, signed a SAR5 billion ($1.3 billion) credit facility with a syndicate of banks on Wednesday, as it announced an order for 60 more aircraft. The kingdom’s second flag carrier, owned by the PIF sovereign wealth fund, has closed an inaugural Islamic revolving […]

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Cenomi Centers sets up fund to complete Qassim mall

Saudi mall operator Cenomi Centers has partnered with GIB Capital to set up a SAR1 billion ($270 million) real estate development fund that will manage a Cenomi land sale in Qassim and allow a mall project there to go ahead.  Bahrain’s Gulf International Bank (GIB), the third-largest lender in the country, is almost wholly owned […]

The Rawabi Energy deal is one of the largest private sector syndicated financings in Saudi Arabia

Saudi’s Rawabi Energy to use $1.9bn funding for expansion

Saudi Arabia’s Rawabi Energy has secured SAR7.175 billion ($1.9 billion) worth of syndicated financing in Saudi riyals and US dollars to support its expansion. The deal, which was 1.33 times oversubscribed, will accelerate its growth plans, underpinned by a full capital structure take-out and refinancing of existing debt, the company said in a statement. HSBC […]

Saudi jet lessor AviLease secures $1.1bn to expand fleet

Saudi Arabia’s Public Investment Fund arm for financing of aircraft has secured $1.1 billion in its inaugural funding round. Riyadh-based Aircraft Leasing Company (AviLease) will use the unsecured five-year facility for general corporate purposes, including growing its fleet. “We have successfully closed our debut $1.1 billion unsecured term financing facility, supported by a syndicate of banking […]

Red Sea Global secures $288m funding for Jumeirah project

Red Sea Global (RSG) has secured $288 million in funding as part of a joint venture with Almutlaq Real Estate Investment Co. (AREIC) to develop Jumeirah The Red Sea on the west coast of Saudi Arabia. Gulf International Bank Saudi Arabia (GIB) provided the green financing, the developer said in a statement. “Achieving commercial close […]

Car, Automobile, Vehicle

Abu Dhabi bids to become electric vehicle manufacturing hub

Abu Dhabi today announced plans for its first electric vehicle assembly facility as the emirate looks to join Saudi Arabia and Sharjah in building a regional manufacturing hub for sustainable transport options. KIZAD, part of AD Ports Group’s Economic Cities & Free Zones, has signed a lease agreement with NWTN to establish an assembly plant […]

Saudi’s Abdul Latif Jameel to invest $220m in Indian electric vehicle maker

Saudi Arabian family conglomerate Abdul Latif Jameel is to invest $220 million in India’s Greaves Electric Mobility, as it looks to benefit from the country’s growing electric vehicle (EV) market. India is currently the world’s fourth-largest automotive market and Greaves Electric Mobility, a subsidiary of Indian engineering firm Greaves Cotton Ltd, produces two and three […]

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Saudi Arabia likely to see two more electric vehicle plants

Plans by American electric vehicle (EV) maker Lucid Motors to build a production plant in Saudi Arabia is likely to be the first of at least three such facilities in the kingdom, investment minister Khalid Al-Falih said today. Speaking at the World Economic Forum in Davos, Falih did not provide any further details on the […]

Lucid’s electric vehicle hub to create 4,500 jobs in Saudi

US-based Lucid Group on Wednesday revealed more details about its plans to build an electric vehicle (EV) production hub in Saudi Arabia, with 4,500 jobs to be created.  With an annual capacity to build 155,000 EVs, agreements in place are estimated to provide financing and incentives to Lucid of up to $3.4 billion over the […]