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Establishment

On December 16, 1973, Kuwait government established the Industrial Bank of Kuwait (IBK) as a closed joint stock market venture; this establishment was in partnership with key private sector institutions. The government was represented through the Ministry of Finance and the Central Bank of Kuwait, while the private corporations were represented by a number of Kuwaiti companies in the banking, industrial, and investment sectors.With a capital of 20 million Kuwaiti Dinars, the establishment of IBK in 1973 was a major leap forward for Kuwait in encouraging industrial activity and strengthening the infrastructure of this vital sector. IBK was the first specialized bank to finance and support industrial development in the GCC.

Capital and ownership

IBK was established with the a shared capital of 10 million Kuwaiti Dinars, which was subsequently increased to 20 million Kuwaiti Dinars, and fully settled in June 1981.The list below details the bank's shareholders and their ownership as it stands today.

IBK Shareholders and Owners

Shareholder Name

Number of Shares

Ownership Percentage  

Ministry of Finance

627,803

31.390

Wafra International Investment Company

361,060

18.053

Central Bank of Kuwait

251,121

12.556

Public Institution for Social Security

103,139

5.157

Commercial Bank of Kuwait

89,686

4.484

Al Ahli Bank of Kuwait

89,686

4.484

Kuwait Flour Mills & Bakeries Company

89,686

4.484

Kuwait Pipe Industries & Oil Services Company

89,686

4.484

Kuwait Paraxylene Production Company

89,686

4.484

Kuwait Investment Company

71,749

3.587

Arab Investment Company

53,812

2.691

Financial Assets Bahrain

49,496

2.475

KAMCO Investment Company

17,937

0.897

Boubyan Petrochemical Company

13,453

0.673

Gimbal Holding Company

2,000

0.100

Total

2,000,000

100.00