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establishment

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Establishment And Ownership

Establishment

 

Indusial Bank of Kuwait K.S.C was established on 10th December 1973 with the initiative of the Government of the State of Kuwait through signing the Memorandum and Articles of Association of the Bank, thus the primary objective and intent of the Government has met the same of the Private Sector to establish the Bank.

 

The sharing of Government has embodied in the Ministry of Finance, Central Bank of Kuwait and the Public Institution of Social Security, while the Private Sector has been represented in certain Kuwaiti banks and considerable companies in the industrial sector as well as certain local investment companies. The current capital of the Bank is Kuwaiti Dinars 20 millions. The establishment of IBK at the end of 1973 is considered an advanced essential step of the State of Kuwait in encouraging and supporting the Industrial Activity as it was the first bank specialized in financing and supporting the industrial development in GCC countries.

 

Capitalization & Ownership

 

The Bank was established with a share capital KD 10 Million, which was subsequently increased to KD 20 Million, fully paid in June 1981. IBK's shareholders and their relative up-to-date shares in equity are shown in the table below :

 

Name of Shareholder

No. of Shares

Percentage

The Government of Kuwait

627,803

31.390

Wafra International Investment Company K.S.C.C

271,374

13.569

The Central Bank of Kuwait

251,121

12.556

The Public Institution for Social Security

103,139

5.157

Commercial Bank of Kuwait S.A.K.

89,686

4.484

Al-Ahli Bank of Kuwait K.S.C.

89,686

4.484

Ahli United Bank K.S.C.

89,686

4.484

Kuwait Flour Mills & Bakeries Co. S.A.K.

89,686

4.484

Kuwait Pipes Industries & Oil Services Co. K.S.C.

89,686

4.484

Privatization Holding Company K.S.C.

89,686

4.484

Kuwait Investment Company S.A.K.

71,749

3.587

Arab Investment Co. K.S.C.C

53,812

 2.691

Financial Assets Company Bahrain W.L.L.

49,496 

2.475

KAMCO Investment Company K.S.C.

17,937

0.897

Bobyan Petrochemical Company K.S.C.

13,453

0.673

Gimbal Holding Company S.P.C.

2,000

0.100

 Total

2,000,000

100.00