Gulf International Bank said to launch IPO in GCC

The ​Gulf International Bank (GIB) is planning to launch an initial public offering ​open to ​investors across the Gulf Cooperation Council (GCC), ​said Yahya Al-Yahya, the bank’s chief executive. 

Al-Yahya did not elaborate on the number of shares that will be offered or the date set for the IPO​. ​

The bank is targeting to have at least two percent of Saudi Arabian banking clients, he said in an interview with Asharq Al-Awsat newspaper.

Al-Yahya said the bank has launched a dedicated banking services platform to individuals based on the enormous banking potential of the GCC.

GIB will offer its customers a wide range of technical channels in which they can open, edit, and manage their accounts through electronic banking services, call centers, and shops, he added.