The Central bank of Kuwait is the government agency responsible for providing the operating license to foreign banks in the country. Although the central bank has some flexible policy to establish foreign bank’s branches, the majority of the foreign banks are from the GCC (Gulf cooperation countries). Here is a list of top foreign banks in Kuwait.
Top foreign banks in Kuwait
1.INDUSTRIAL AND COMMERCIAL BANK OF CHINA
It is one of China’s multinational state banks established in 1984. Capital is sponsored by the ministry of finance and it has listed in both the Shanghai stock exchange and the stock exchange in Hong Kong.
The ICBC established it’s a first middle east branch in 2014 in Kuwait since it obtained an authorized operating license from the central bank of Kuwait.
Now, the bank has provided wholesale banking to the other financial institution and investment banking in Kuwait as well as in other countries in the Middle East.
- Street Address: Al-Sour St., Al-Tijaria Tower, Al-Murqab, 7th & 8th Floor
- Postal Address: P. O. Box: 5826, Safat 13059, State of Kuwait
- Tel: (965) 22281777
- Fax: (965) 22281799
2. HSBC BANK
It was the first British bank operated under the Name of the imperial bank in Kuwait in 1942, but, it pulled out its operation from Kuwait and re-established in 2005 after 34 yrs later.
HSBC (Hong Kong and Shanghai Banking Cooperation) is the British multinational financial company which has presented in 65 countries with 3900 offices around the world. The bank has divided into four categories
- Retail Banking and Wealth Management
- Commercial Banking
- Global Banking and Markets
- Global Private Banking
The bank has listed Hong Kong, New York, Paris, and Bermuda stock exchanges with more than 200,000 shares holders in 129 countries.
- Street address-Hamra Tower, Floor 37, Sharq
- Postal address. O. Box: 1683, Safat 13017, State of Kuwait
- Tel(965) 22230722
- Fax(965) 22230733
It is one of the American international banks, established in 1812 in New York now it has operating 249 branches in 100 countries including Kuwait. It is the first western bank that established a branch in Kuwait.
City bank is celebrating 30th years of founding branch in the country and providing most innovative banking services across the middle east. It has a regional headquarters in Dubai.
Street Address: Gulf Road, Ahmad Tower, Sharq
Postal Address: P. O. Box: 26027, Safat 13121, State of Kuwait
Tel: (965) 22594000
Fax: (965) 22594002
4.QATAR NATIONAL BANK
Qatar National Bank is one of the top commercial banks in the Gulf countries. Currently, it has subsidiary and associated spanning across the 31 countries including the continent of Asia, the Middle East, the EU, and Africa.
The bank is owned by the QNB Group in Qatar, which has many brands in the finance and industry sectors including QNB Capital, to corporate, government, and institutional clients within Qatar and globally.
- Street Address: Ahmad Al-Jaber St., Al-Arabia Tower, Sharq
- Postal Address: P. O. Box: 583, Dasman 15456, State of Kuwait
- Tel: (965) 22997811 (965) 22997812
- Fax: (965) 22997800
5. FIRST ABU DHABI BANK
It is the largest bank of United Arab Emirates headquartered in Abu Dhabi and found in 2016 after merging the two largest banks of UAE First Gulf bank and national bank of Abu Dhabi.
In 2019 it became the most profitable bank in the United Arab Emirates. It has operated branches in GCC (Gulf Cooperation Council) countries.
Since 2006 as the name of the National bank of Abudhabi FAB has been providing corporate investment banking in Kuwait.
- Street Address Ahmed Al-Jaber, Al Bahar Towers, Sharq
- Postal Address: P. O. Box: 2620, Safat 13027, State of Kuwait
- Tel: (965) 22477173 (965) 22477174
Fax: (965) 22495196
6. AL-RAJHI BANK
Al Rajhi is the world-leading Islamic bank founded in Saudi Arabia in 1957. The bank is listed in the London stock and Saudi Arabia Stock market.
It has been providing a variety of financial services including; deposits, loans, investment advice, securities trading, remittances, credit cards, and consumer financing in Kuwait.
As being the Islamic finance, all of its services go through the Islamic requirement. The bank has almost 600 branches primarily in the Kindom of Saudi Arabia including Kuwait, and Jordan, and Malaysia.
- Street Address: Arabian Gulf Road, Ahmad Tower, Ground Floor & Mezzanine, Sharq
- Postal Address: P. O. Box: 5248, Safat 13053, State of Kuwait
- Tel:(965) 24954300
- Fax: (965) 24954301
7.Abu Dhabi Commercial bank
It is also a UAE bank that has branches in Kuwait. In terms of the balance sheet, it is a third-largest commercial bank in the United Arab Emirates. The Abudhabi government held 62% share and others from the general public.
Its international operation has reached from GCC to the USA, Singapore, London, and India. Since it was a merger with Union Bank of UAE the international presents have been rapidly growing toward Asian emerging market.
- Street Address: Ahmed Al-Jaber, Dar Al-Awadi, Building No. 5, Sharq
- Postal Address: P. O. Box: 29615, Safat 13157, State of Kuwait
- Tel: (965) 22950500
- Fax: (965) 22950501
8. MASHREQ BANK
It is a top-performing bank in GCC and international banking and financial services, providers. The bank founded in 1967 in Dubai currently it has international branches including the middle east, Asia, Africa, and the EU.
In Kuwait, the banks provide similar services of UAE including personal finance, corporate finance, and investment banking.
- Street Address: Ahmad Al-Jaber, Loa loa Tower, Qibla
- Postal Address: P. O. Box: 461, Dasman 15455, State of Kuwait
- Tel: (965) 24954899
- Fax: (965) 24954861 (965) 24954862
9. BANK MUSCAT
This is an Omani bank in Kuwait that provides retail banking, investment banking, corporate banking, private, and asset management services. The bank has representative offices in Singapore Dubai, UAE, and the full flex branch in Saudi Arabia, Kuwait.
It has won the award as the best bank in Oman continuously 9 years from the Global Finance and Euro money. Although the bank has not a large international network it has more than 150 branches across Oman.
- Street Address: Fahad Al-Salem St., Al Safat Tower, Floor 1M & 2, Kuwait City
- Postal Address: P. O. Box: 866, Souk Al-Dakhly 15259, State of Kuwait
- Tel: (965) 22921133
- Fax: (965) 22921134
10. DOHA BANK
It is another Qatari bank that has present in Kuwait following the QNB. It is the most rated bank in Qatar and has a rapid explanation history since it established in 1979.
The bank provides international and domestic financial services to the individual and organizations. It has fully operational global branches in Kuwait, Dubai (UAE), Abu Dhabi (UAE), Mumbai, Chennai, and Kochi (India).
The representative offices of this bank have spread Including Japan, China, Singapore, Hong Kong, South Africa, South Korea, Australia, Turkey, the United Kingdom, Canada, Germany, Bangladesh, Sri Lanka, and Nepal.
- Street Address: Ahmad Al-Jaber St., Al-Sarraf Tower, Sharq
- Postal Address: P. O. Box: 506, Safat 13006, State of Kuwait
- Tel: (965) 22415544, (965) 22416647, (965) 22974300
- Fax: (965) 22416634
Wrapping up: Although Kuwait has not held many international banks’ branches these above-listed are top foreign banks in Kuwait out of 12 have licensed from the central bank of Kuwait.