kipco world

KIPCO World is an annual publication which highlights companies within the KIPCO Group, the work they do and the people that work for them.

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KIPCO’s banking network

When KIPCO acquired the Bahrain-based United Gulf Bank, it became the first banking institution under the holding company. During the privatization process initiated by the Kuwaiti government in the mid-1990s, KIPCO acquired controlling stakes in Burgan Bank and Al Ahli Bank of Kuwait, after studies concluded that the Kuwaiti market was overbanked and ripe for restructuring. Over the years, KIPCO would exit from Al Ahli Bank of Kuwait and work to expand its banking operations through Burgan Bank. Burgan Bank quickly became a Group, and under its umbrella came Tunis International Bank, Algeria Gulf Bank, Bank of Baghdad and Burgan Bank Turkey. Until very recently, Jordan Kuwait Bank fell under Burgan Bank Group, and is now directly under KIPCO. Meanwhile, the network under UGB has also increasing its presence across the region. Under the Bahrain-based bank come FIMBank in Malta and Syria Gulf Bank. Today, KIPCO’s banking network of nine banks cover 11 countries, giving it unparalleled regional presence.

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