Industrial Bank of Kuwait explained

Industrial Bank of Kuwait
Location:	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

• List of banks in Kuwait
• List of national development banks

External links

• Industrial Bank of Kuwait

Notes and References

1. Web site: About IBK . ibkuwt.com.
2. Web site: Ventura . Luca . 2024-03-04 . Top 10 Banks in Kuwait . 2024-06-17 . Global Finance Magazine . en-US.
3. Web site: Fitch Affirms Industrial Bank of Kuwait at 'A' . 2024-06-17 . fitchratings.com.
4. Web site: About IBK - SHAREHOLDERS AND OWNERSHIP . ibkuwt.com.
5. Web site: KUNA : Industrial Bank of Kuwait marks 50th anniversary - Economics - 08/01/2024 . 2024-06-17 . www.kuna.net.kw.