Manama: Mahmood Rafique, Editor: Gulf International Bank, a leading pan-GCC banking institution, announced the establishment of its US$ 3 billion Certificate of Deposit (CD”) Programme, further strengthening the Bank’s funding platform and enhancing its access to short-term wholesale funding markets.
The Programme represents an important milestone in GIB’s ongoing funding diversification strategy and provides the Bank with additional flexibility to access a broad base of regional and international institutional investors. The CD Programme complements GIB’s existing funding sources and supports the Bank’s prudent liquidity, balance sheet and funding management objectives. It is intended to further strengthen the Bank’s access to global money market investors and support its long-term funding diversification strategy.
“The establishment of our CD Programme marks another important step in the continued development of GIB’s funding capabilities. The CD Programme will enhance our access to institutional investors, further diversify our funding sources and strengthen our ability to efficiently manage liquidity across market cycles. This initiative reflects our commitment to maintaining a resilient and well-diversified funding profile while supporting the Bank’s long-term strategic objectives,” Meshari AlMogbel, Group Chief Investment & Treasury Officer said, while commenting on the CD Programme establishmen.
The CD Programme was established with Mizuho International acting as Arranger, and Mizuho International and Nomura appointed as Dealers. The CD Programme is expected to be utilised in line with market conditions, investor demand and the Bank’s funding requirements.
GIB maintains strong investment-grade credit ratings from leading international rating agencies, including Fitch Ratings (BBB+ / Stable), Moody’s Investors Service (A2 / Stable) and Capital Intelligence Ratings (A+ / Stable). These ratings reflect the Bank’s strong capitalisation, sound liquidity profile, prudent risk management framework and established franchise across the Gulf region.
