Industrial Bank of Kuwait
Financial institution in Kuwait
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| Company type | Private |
|---|---|
| Industry | Banking |
| Founded | 1973; 51 years ago (1973) |
| Headquarters | Kuwait City, Kuwait |
Key people | Ali A. Khajah (CEO) |
The Industrial Bank of Kuwait (IBK) was established in 1973 in the State of Kuwait through a government initiative.[1] It specializes in providing financial support for the Kuwaiti industrial sectors.
History
It was founded by the government of Kuwait in partnership with private sector institutions. It was created with the aim to support the country's development and to enhance the international competitiveness of Kuwaiti companies. In its initial phase, being the first bank in the Gulf Cooperation Council region to specialize in industrial development, IBK's main focus was to provide medium to long-term financing for industrial projects.[2] Currently, majority of the bank’s shares are owned by the public authorities,[3] including the Ministry of Finance, the Central Bank of Kuwait, and the Public Institution of Social Security.[4]
Financial performance
As of 2024, the bank’s capital stands at KWD 20 million.[5]
See also
External links
- Industrial Bank of Kuwait
References
- ^ "About IBK". ibkuwt.com.
- ^ Ventura, Luca (2024-03-04). "Top 10 Banks in Kuwait". Global Finance Magazine. Retrieved 2024-06-17.
- ^ "Fitch Affirms Industrial Bank of Kuwait at 'A'". fitchratings.com. Retrieved 2024-06-17.
- ^ "About IBK - SHAREHOLDERS AND OWNERSHIP". ibkuwt.com.
- ^ "KUNA : Industrial Bank of Kuwait marks 50th anniversary - Economics - 08/01/2024". www.kuna.net.kw. Retrieved 2024-06-17.
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