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GIB Starts New Strategy Implementation Project
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In a general management town hall meeting that was held in October 2010, our CEO, Dr. Yahya Alyahya gave a presentation on the Bank’s new strategy and its implementation project, the targeted implementation timelines, and the teams that will be involved in the project.
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Dr. Alyahya discussed the key elements of |
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the new strategy, which entails moving to a diversified retail, corporate and investment bank with focused segments and more diversified funding from retail banking and asset management, and more diversified revenue streams, thus reducing volatility and minimising the effects of external shocks. |
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GIBUK’s Emerging Markets Opportunities Fund Positively Progressing
GIBUK’s most recently launched Emerging Markets Opportunities Fund (EMOF) is progressively proceeding as planned according to the management team who are responsible for managing this fund. Till this date, the success of the launched fund is described as positive and the managers are determined to continue investing gradually and opportunistically.
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Head of Investor Relations, Mr. Anthony Chisnall said that the participation by GIB’s main shareholder is testament to the significance of this product, which is GIBUK’s flagship fund. |
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Abdullah A.M. Al-Khodari Sons Company IPO
Successfully
Covered by Institutional Investors
The Capital Market Authority (CMA) in the Kingdom of Saudi Arabia announced in early October the price of the initial public offering (IPO) for the shares of Abdullah A. M. Al-Khodari Sons Company after successful coverage by the institutional investors. The Company Offered up to 50 per cent of its 12,750,000 floated shares to retail investors between 4-10 October 2010.This was the largest premium IPO in the Saudi market in 2010.
The Company appointed GIB Financial Services (GIBFS), a subsidiary of Gulf International Bank (GIB), as its financial advisor and lead manager, and GIBFS and Riyad Capital as its co-underwriters for the IPO.
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GIB Organises Long Service Awards for Employees |
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GIB employees and their guests celebrated the Ramadan Ghabga in Riyadh Branch at the Al-Faisaliah Hotel, and the Crowne Plaza Hotel in Bahrain. The events also included the Annual Long Service Awards ceremony which was hosted by the CEO, Dr. Yahya Alyahya, and other members of the management team. There were 38 honoured employees from Bahrain, 16 from Riyadh, Jeddah and GIBFS, and five employees from GIB representative offices. |
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HR Development Initiative:
GIB Continues to Support Youth Training |
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As in previous years, GIB welcomed 16 graduates to experience work for the first time. There were four school graduates under the Crown Prince's Training Programme and 12 under the University of Bahrain Internship Programme. This year, the university internship scheme included students from the Kingdom of Saudi Arabia, where the training was provided for these students in Riyadh Branch, in addition to Bahrain. |
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