Gulf African Bank aims to fulfil its prime objective of providing innovative and competitive financial service solutions while following the Shari’ah principles of ethics and fairness. The bank also provides customers with accessibility and convenience, within an atmosphere and culture of dedicated service and recognition of their needs.
The Bank caters to the Small and Medium Enterprise segment, high net worth individuals and salaried individuals looking for a relationship focused banking experience.
Gulf African Bank has clearly established itself as the leading Islamic bank in Kenya with 14 branches in Nairobi city, Eastleigh, Parklands, Muthaiga, Mombasa, Bondeni, Lamu, Malindi and Garissa.
During the four years of its operation as an Islamic commercial bank (from 2007 to 2012), offering universal banking services to customers the bank has been one of the fastest growing banks in the history of the country’s banking sector.
Gulf African Bank has established a strong and credible management team comprised of experienced professionals, that have achieved a strong balance sheet with excellent operating profitability and strong ratios, which places the Bank at the top of the industry. The bank is currently a tier 2 bank with total assets of over Sh11.9 billion and a net profit of Sh75 million as at September 2011.
Our Awards and Accreditations
Innovation is crucial to Gulf African Bank. We take our time to create products and services that are not only different, but respond to our clients needs.
We also value our customers and ensure that they recieve excellent service. At the 2008 Think Business Annual Banking Awards, Gulf African Bank was recognized as the 2nd Best Bank in Customer Satisfaction.
We thank you for partnering with us.
Our employees - our most valuable asset
Gulf African Bank is an equal opportunity employer. We realise that our human capital is the most important and valuable asset that we possess. We therefore will provide our employees with long-term career opportunities to encourage them to grow with us. We will invest adequately in training and human resource development to ensure that employees progress over time, are appropriately rewarded for their efforts and emerge as the best in the industry.
Our shareholders – A solid commitment
Gulf African Bank truly is your solid financial partner. We enjoy the backing of strong shareholders who are fully committed to creating a solid bank characterized by growth and the very latest products riding on robust technology and delivered with internationally benchmarked standards of service quality.
Institutional Investors account for around 90% of the shareholding with the balance being prominent Kenyan investors in their individual capacity.
Profile of our eminent shareholders:
Istithmar World - the investment arm of Government of Dubai is based in the United Arab Emirates and focuses on private equity, real estate and strategic investments
BankMuscat International - BMI Bank, the Bahrain based associate of BMI Bank the largest financial services provider in Oman, is a retail bank, registered in Bahrain and regulated by the Central Bank of Bahrain. BMI Bank operates through a network of 8 branches and 26 ATMs with net banking for easy access to services. Other interests of BMI include: an Offshore Bank in the Seychelles, a branch in Qatar, Diners Club Services Bahrain W.L.L and operates the Diners Club cards franchise in Bahrain and a 21.33% shareholding in Gulf African Bank in Kenya. BMI's shareholders include some of the strongest and most respected financial institutions across the GCC. BMI Bank, rated as Investment Grade, maintains total equity (share capital and reserves) of USD 341 million.
Sheikh Abdallah Mohammed Al Romaizan is one of the leading investors from Saudi Arabia. He commands the largest market share of the gold business in Saudi Arabia and is a major investor in most large Saudi Banks. He is well recognized as a financially strong and a leading investor with several investment holdings across the globe.
GulfCap Group is an investment company registered in the United Arab Emirates set up by Mr Suleiman Shahbal, its Chief Executive Officer, and Mr Jamil Qureshi. The shareholders of GulfCap include prominent and financially strong investors from the Gulf having diversified investment holdings across the globe.
PTA Bank - The Eastern and Southern African Trade and Development Bank (PTA Bank) was formed in 1985 as a financial arm of the integration arrangement envisaged under Common Market for Eastern and Southern African States (COMESA). Africa Development Bank and 18 countries are the shareholders of PTA Bank. PTA Bank's support will be invaluable in helping Gulf African Bank to grow into a regional bank.
Individual Investors: A selection of prominent business and opinion leaders in Kenya, and the Gulf have also invested in their personal capacities sharing our vision of developing a major financial institution.
Click here to download our latest e-newsletter >