Saturday , January 16 2021

Gulf International signs US $ 500 million financing agreement with regional and international banks



Gulf International Bank (GIB) has signed a three-year, $ 500 million credit facility with regional and international banks such as Abu Dhabi First Bank, HSBC Middle East Limited, Natixis Bank, Dubai International Financial Center, Riyad Bank , Mizuho Limited, Samba Financial Group, State Bank of India in Bahrain, Citibank N, Bank of Bahrain and Wiry Bank, Bahrain Branch.

Abu Dhabi First Bank and HSBC Bank Middle East Limited also served as chief financial officers and managers. Abu Dhabi First Bank was appointed as financial agent. The financing is intended for the refinancing of facilities based on time and for general financing purposes.

"We are pleased to announce the successful completion of this agreement with the support of nine regional and international financial institutions," said Abdulaziz Al Helaisi, executive director of the Gulf International Bank Group.

"Due to the high demand for structured credit lines, line issuance exceeded the target, and the amount of financing increased from US $ 250 million to US $ 500 million to meet this demand, reflecting the bank's confidence in the bank."

The GIB continues to advance its strategy of expansion and presence in key regional markets through the development of its business and customer base. In March this year the Bank launched the digital bank business for individuals in Bahrain and the final stages of transforming its existing Saudi Arabian branches into a local Saudi bank as part of its quest to grow in the Saudi market and seize the opportunities it offers . Vision of the Kingdom 2030.


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