Gulf International Bank is finalising a reallocation of shares in the light of a $4.8 billion bailout by its shareholders. The bank’s chief executive Yahya Alyahya tells Euromoney the new ownership structure will be announced in the next two months.
Shareholders of GIB, who are the six governments of the Gulf Co-operation Council (Bahrain, Kuwait, Oman, Qatar, Saudi Arabia and UAE), bought $4.8 billion of international securities from the bank, including its entire CDO and ABS portfolio in late March.
“The shareholders have agreed on a reallocation of shares between...
