Bank of Bahrain and Kuwait

Bank of Bahrain and Kuwait B.S.C (BBK)

BBK Logo
Company type	Financial
Traded as	BHSE:BBK
Industry	Banking Financial services Investment services
Founded	16 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)
Products	Finance and insurance Consumer Banking Corporate Banking Investment Banking Investment Management Global Wealth Management Private Equity Mortgages Credit Cards
Revenue	$419.894 million (2019)[1]
Operating income	$284.615 million (2019)[1]
Net income	$200.000 million (2019)[1]
Total assets	$10.252 billion (2019)[1]
Total equity	$1.450 billion (2019)[1]
Number of employees	1,392 (2019)[1]
Subsidiaries	CrediMax, Invita
Website	www.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

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

• Ithmaar Bank B.S.C 25.38%^[5][6]
• Pension Fund Commission 18.77%
• Kuwait Investment Authority 18.70%
• Social Insurance Organisation 13.34%

Subsidiaries

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

1. Digital4U (2019). BBK 2019 Annual Report (PDF) (Report). BBK. Retrieved 17 October 2020.
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.

External links

• Home page