National Bank of Kuwait concludes investment in Grindlays Qatar Bank

Notes and media contacts

National Bank of Kuwait (NBK)

NBK was founded in 1952 as the first indigenous bank and the first joint stock company in Kuwait and the Gulf Region. It is by far the largest financial institution in Kuwait with an effective market dominance in the commercial banking market. NBK stands out in Kuwait and among Arab banks in terms of its local and international network, which includes branches, subsidiaries and representative offices in London, New York, Paris, Geneva, Bahrain, Beirut, Singapore, Vietnam and Thailand, with other ambitious plans for regional expansion. NBK reported profits of USD 412 million during 2003, among the highest in the Arab world.

For more information:
Mr. Ahmed Hafez - Press Office Manager
Tel +965 2460168 - Fax +965 2465190

Grindlays Qatar Bank (GQB)

GQB, now International Bank of Qatar, has one of the oldest banking businesses in Qatar. Previously it was a member of the ANZ Grindlays Banking Group after which it was a part of the Standard Chartered Banking Group. The cooperation between SCBG and the local shareholders ended in 2003 making the Bank fully locally owned and independently managed.

For further information contact
Mrs Reema Kassim
HR and PR Manager
Tel + 974 447 3717
Fax + 974 447 3711