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Bank of Bahrain and Kuwait

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Bank of Bahrain and Kuwait B.S.C (BBK)
Company typeFinancial
BHSE:BBK
IndustryBanking
Financial services
Investment services
Founded16 March 1971; 53 years ago (16 March 1971)
Headquarters
Manama
,
Bahrain
Area served
Bahrain and Kuwait (retail and corporate banking); UAE and India (corporate banking only), Turkey
Key people
Tariq Jaleel AlSaffar (Chairman)
Yaser Alsharifi (CEO)
ProductsFinance and insurance
Consumer Banking
Corporate Banking
Investment Banking
Investment Management
Global Wealth Management
Private Equity
Mortgages
Credit Cards
RevenueDecrease $419.894 million (2019)[1]
Decrease $284.615 million (2019)[1]
Increase $200.000 million (2019)[1]
Total assetsIncrease $10.252 billion (2019)[1]
Total equityIncrease $1.450 billion (2019)[1]
Number of employees
1,392 (2019)[1]
SubsidiariesCrediMax, Invita
Websitewww.bbkonline.com

The Bank of Bahrain and Kuwait (BBK) was established on 16 March 1971 in both the Kingdom of Bahrain and the State of Kuwait. Its shareholders consist of the public, the government of Bahrain, banks and investment companies in Kuwait. BBK engages in the provision of various services and banking products throughout its branches in Bahrain, Kuwait and India as well as its representative office in Dubai, United Arab Emirates.

Operations

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The BBK is split into four major segments: Retail Banking deals with individual customers through e-banking, loans, multi-feature accounts, credit facilities etc.;[2] Treasury and Investment which handles internal consults with the various departments and affiliated companies to handle capital management; Corporate Banking focuses on corporate and institutional customers within Bahrain; and International Banking works with overseas corporates and institutional customers, with branches in India, representative offices in Turkey and Dubai, and global correspondence with larger banks, to manage overseas trading, money marketing plus funding operations.[3][4]

Shareholders

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Subsidiaries

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Subsidiaries of the BBK include: CrediMax which specialises in credit card issuing; Capinnova Investment Bank, a Sharia compliant investment banking division of the BBK which works with the corporate finance and private equity departments; Invita is a call centre outsourcing subsidiary; Sakana, a joint venture between Capinnova and Ithmaar Bank, focusing on Islamic finance in the real estate sector; Global Payment Services (GPS), a branch of Credimax that specialises in processing and outsourcing business to local and overseas clients.[7]

References

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  1. ^ a b c d e f Digital4U (2019). BBK 2019 Annual Report (PDF) (Report). BBK. Retrieved 17 October 2020.{{cite report}}: CS1 maint: numeric names: authors list (link)
  2. ^ "Bank of Bahrain and Kuwait B.S.C. : Shareholders Board Members Managers and Company Profile". MarketScreener.com. 2019.
  3. ^ "Back Matter". Economic and Political Weekly. 36 (23): 2090–2096. 9–15 June 2001. JSTOR 4410724.
  4. ^ Seznec, Jean-François (1987). The Financial Markets of the Arabian Gulf. London: Croom Helm. ISBN 978-0-70995-404-0.
  5. ^ "Bahrain's banking sector remains stable despite fluctuations in the regional market". Oxford Business Group. 16 March 2018. Retrieved 19 December 2020.
  6. ^ Ernst & Young (31 December 2019). Report on the Audit on the Consolidated Financial Statements (PDF) (Report). 2255E. Manama: London Stock Exchange. pp. 1–70.
  7. ^ "Management review". Annual Report 2012 (PDF) (Report). BBK. 2012. pp. 22–32.
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