• The deal marks a pivotal step in Qutayba Yousef Ahmed Al-Ghanim Group’s efforts to redirect its investments and provides the group with the opportunity to allocate resources towards new projects, contributing to the enhancement of economic activity in Kuwait and the Middle East.
Qutaiba Yousef Ahmed Al-Ghanim announced an agreement with Warba Bank to sell all shares of Alghanim Trading Company (LLC), which holds a 32.75% stake in Gulf Bank. The share transfer will proceed once regulatory approvals are secured, marking the conclusion of Al-Ghanim Group’s investments in Gulf Bank. These investments, which began in 1996, saw Gulf Bank’s total assets grow by 360% to reach five billion dinars, according to Al Rai newspaper.
Al-Ghanim stated, “Our investments in Gulf Bank, over nearly three decades, have been an important chapter in our journey. With the conclusion of this phase, we look forward to pursuing new opportunities that align with our strategic directions and support our future vision.”
This deal marks a pivotal step in Qutayba Yousef Ahmed Al-Ghanim Group’s efforts to redirect its investments. It provides the group with the opportunity to allocate resources towards new projects, contributing to the enhancement of economic activity in Kuwait and the Middle East.
It is worth noting that Qutayba Yousef Ahmed Al-GhanimGroup includes Alghanim Industries, one of the largest private sector companies in the Middle East and North Africa, with a history spanning over a century. The company employs more than 15,000 people across the Middle East, India, and Southeast Asia and operates in key sectors such as automotive, retail, services, industries, and food and beverages.
With a customer-centric approach and reliance on world-class systems and practices, Alghanim Industries continues to expand its presence across various sectors. The company introduces global brands in the automotive industry with a focus on sustainable mobility and demonstrates remarkable growth in the industrial sector across the Middle East, India, and Southeast Asia.
