Wednesday, April 17
12:58 PM

Gulf International Bank opens branch in Oman

9 Mar 2024 By OUR CORRESPONDENT

Muscat – Bahrain-headquartered Gulf International Bank (GIB) has taken a significant step forward in its GCC expansion strategy by entering the Omani market.

GIB officially launched its wholesale banking branch in Muscat on Thursday, marking another milestone in the group’s expansion strategy and further commitment to the sultanate as a core target market for the GIB Group.

Operating as a wholesale branch of GIB, the Omani branch will provide comprehensive wholesale banking solutions, including a wide range of credit, global transaction banking, and treasury services, according to a press statement.

Having already established a strong franchise in Oman, the GIB branch will enable the bank to be closer to and better serve its clients, which include a growing number of the country’s leading corporates, financial institutions, and government entities.

The branch was inaugurated at a reception held at the Royal Opera House Muscat, Seafront Maidan, under the patronage of H E Tahir bin Salim al Amri, Executive President of the Central Bank of Oman. Also attending the event were GIB’s Chairman, Abdulla bin Mohammed Al Zamil, and the Group CEO of GIB, Abdulaziz al-Helaissi. The event was also attended by distinguished guests, GIB’s board members, GIB’s senior management, and clients.

Speaking on the occasion, H E Amri said, “The branch opening of Gulf International Bank in Oman will contribute to supporting the Omani banking sector with new expertise and providing various financial services to investors and institutions, thus enhancing the provision of liquidity required to finance investments and development projects, which will reflect positively on the national economy.”

He added, “GIB’s new branch strengthens the cooperation and trade exchange in Oman. I wish success to the bank in providing unique banking services and playing an active role in the banking and financial ecosystem.”

GIB Chairman Zamil said, “We are delighted to announce the establishment of our branch in Oman, further strengthening our position as a leading pan-GCC universal bank with a global reach and a presence in all key Gulf markets. While we have been providing clients in the country with innovative financial products and solutions for decades, this move allows us to better anticipate and meet their needs and grow our participation in the local economy.”

“The establishment of our branch also reflects the strong opportunities we see in the market driven by Oman’s commitment to sustainable growth and its ambitious Vision 2040. We look forward to building our position on the ground and adding further value for our clients and stakeholders.”

© 2021 Apex Press and Publishing. All Rights Reserved. Powered by Mesdac