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 shares in equity are shown in the table below :
|
Name of Shareholder
|
No. of Shares
|
Percentage
|
|
The Government of Kuwait
|
627,803
|
31.39015
|
|
Wafra International Investment Company
|
271,374
|
13.5687
|
|
The Central Bank of Kuwait
|
251,121
|
12.55605
|
|
The Public Institution for Social Security
|
103,139
|
5.15695
|
|
Commercial Bank of Kuwait S.A.K.
|
89,686
|
4.4843
|
|
Al-Ahli Bank of Kuwait K.S.C
|
89,686
|
4.4843
|
|
Ahli United Bank
|
89,686
|
4.4843
|
|
Kuwait Flour Mills & Bakeries Co. K.S.C
|
89,686
|
4.4843
|
|
Kuwait Pipes Industries & Oil Services Co.
|
89,686
|
4.4843
|
|
National Industries Group
|
89,686
|
4.4843
|
|
Kuwait Investment Company
|
71,749
|
3.58745
|
|
Arab Investment Company
|
53,812
|
2.6906
|
|
Financial Assets Bahrain Company
|
49,496
|
2.4748
|
|
KIPCO Asset Management Company
|
17,937
|
0.89685
|
|
Bobyan Petrochemical Company
|
13,453
|
0.67265
|
|
Global Investment House
|
2,000
|
0.1
|
|
Total
|
2,000,000
|
100.00
|
|