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Gulf International to launch regional retail network

Bahrain-based Gulf International Bank (GIB) has selected Saudi Arabia as base to launch a regional retail banking network, as part of a GCC-wide expansion plan, Gulf Daily News has reported. "It is part of our strategy to create a universal banking platform which will also include our wholesale banking operations," said GIB's chief financial officer, Stephen Williams. "We are planning to expand our operations and we have already been recruiting to do this," he said.