Latest news with #AlAhliBank
Zawya
01-07-2025
- Business
- Zawya
Al Ahli Bank of Kuwait appoints former ENBD banker as new Group CEO
Al Ahli Bank of Kuwait has appointed Guillaume Jean Marie Van der Tol, also known as Giel-Jan, as its new Group CEO, replacing acting head Abdulla Al Sumait, who will retain his position as Deputy Group CEO. Van der Tol worked at ABN AMRO Bank in the Netherlands for 21 years holding several executive positions. In 2000 he was appointed Global Head HR of the Global Markets Division in Amsterdam/London, after which he served as COO of Saudi Hollandi Bank (SHB) in Riyadh. In 2005 he was appointed CEO and Managing Director of Nordic bank SHB. He also held the positions of Managing Director of Tier One Capital in the Netherlands and CEO of Dubai Bank in the UAE. After the merger of Dubai Bank with Emirates NBD Bank in 2012, he became a member of the latter's Group Executive Committee, serving as Global Head Wholesale Banking, followed by the position of CEO and Managing Director of Emirates NBD Bank Egypt. (Writing by Bindu Rai, editing by Seban Scaria)
Bloomberg
29-06-2025
- Business
- Bloomberg
Asian Banks Fuel More Than $2 Billion Loan Boom in Middle East
By and Christine Burke Save Middle East borrowers are ramping up loans that are being syndicated in Asia Pacific as they look to diversify fundraising beyond global bond and domestic markets. More than $2 billion of Middle East deals targeting Asian bank liquidity have launched in recent weeks, including Saudi Electricity 's $1 billion loan, Banque Saudi Fransi 's $750 million facility and a $500 million financing for Al Ahli Bank of Kuwait.
Zawya
27-05-2025
- Business
- Zawya
Kuwaiti lenders Gulf Bank and Warba Bank exploring potential merger
Kuwait's Gulf Bank and Warba Bank are exploring a potential merger which could lead to the creation of one of the largest Shariah compliant banks in the Gulf country. Warba Bank, which is Gulf Bank's largest shareholder with a stake of 32.75%, initiated talks for a feasibility of a potential merger between the banks, which was later approved by the Gulf Bank board. Warba Bank said the potential merger would enhance 'competitiveness in the local Islamic banking sector.' This is the third merger discussion involving Gulf Bank, with a potential merger with Kuwaiti lender Boubyan Bank called off in January following the disclosure that shareholder, Alghanim Trading, would divest its entire 32.75% stake in GBK to Kuwait's Warba Bank for 498.2 million Kuwaiti dinars ($1.61 billion). In July 2023, Gulf Bank and Al Ahli Bank of Kuwait announced they were no longer pursuing a merger, following the completion of feasibility studies by consulting companies they appointed in December 2022. A merger between Gulf Bank and Warba Bank would create the third largest financial institution after KFH and NBK, with total assets reaching KWD13 billion. The feasibility study aligns with a Fitch Ratings forecast last month, with Redmond Ramsdale, the Head of Middle East Bank Ratings and Islamic Banking, telling Zawya Islamic bank mergers and acquisitions are expected to rise in the GCC in the short to medium term, driven by the search for competitive advantage to access growth opportunities and build low-cost deposits. 'The region is over-banked, and therefore we expect consolidation to continue in all countries,' Ramsdale said. A Gulf Bank-Warba Bank merger would potentially be the second significant M&A event in the GCC involving major lenders, with the UAE's Emirates NBD initiating a mandatory cash offer in March to acquire the remaining 0.11% stake in the Dubai-listed Emirates Islamic Bank (EIB) at 11.95 UAE dirhams per share, totalling approximately 69.8 million UAE dirhams. (Writing by Bindu Rai, editing by Brinda Darasha)
