Former Deutsche Bank regional head Jamal Kishi joins GIB as chief executive – The National

Former Deutsche Bank regional head Jamal Kishi joins GIB as chief executive – The National

Former Deutsche Bank regional head Jamal Kishi joins GIB as chief executive. The Bahrain-based lender is pursuing growth to become a pan-GCC financial institution. Bahrain-based Gulf International Bank (GIB) has appointed Jamal Al Kishi as its new chief executive as the lender bids to become a top pan-GCC financial institution.. The lender last year completed the conversion of its existing branch network in Saudi Arabia into a locally incorporated bank with a paid-up capital of 7.5 billion Saudi riyals (Dh7.35bn).. Gulf International Bank Saudi Arabia, as the lender is now known, is equally owned by parent GIB and Saudi Arabian sovereign wealth fund, the Saudi Public Investment Fund, GIB said at the time.. GIB, which has been operating in the kingdom for almost two decades, was the first financial institution to be allowed to convert into a local bank.. The lender, which has branches in Riyadh and Jeddah, is looking to further strengthen and build its presence in the kingdom, the biggest Arab economy, it said.. The bank reported net income of $62 million (Dh227.7m) on total income of $384.7m in 2019, and finished the year with total assets of $30.24bn.. Regional and international banks have been keen on establishing