Gulf International Bank B.S.C. (GIB) has established a $3 billion Certificate of Deposit (CD) Program to expand its funding platform and strengthen access to short-term wholesale funding markets.
The program forms part of the bank’s funding diversification strategy and is designed to provide greater flexibility in accessing regional and international institutional investors.
It complements GIB’s existing funding sources while supporting liquidity management, balance sheet planning, and long-term funding requirements.
According to the bank, the CD program will broaden its access to global money market investors and support its approach to maintaining a diversified funding base. It strengthens the bank’s ability to manage short-term funding requirements under varying market conditions.
Meshari AlMogbel, GIB Group Chief Investment & Treasury Officer, said that, “The establishment of our CD Program marks another important step in the continued development of GIB’s funding capabilities. The CD Program will enhance our access to institutional investors, further diversify our funding sources, and strengthen our ability to efficiently manage liquidity across market cycles. This initiative reflects our commitment to maintaining a resilient and well-diversified funding profile while supporting the Bank’s long-term strategic objectives.”
The program has been established with Mizuho International acting as the arranger, while Mizuho International and Nomura have been appointed as dealers.
GIB emphasized that the program will be utilized based on market conditions, investor demand, and the bank’s funding requirements.
Financial institutions commonly use Certificate of Deposit programs to raise short-term funding from institutional investors. They provide banks with additional flexibility in managing liquidity while supporting broader funding strategies.
GIB continues to maintain investment-grade credit ratings from major international rating agencies. The bank is rated BBB+ with a Stable outlook by Fitch Ratings, A2 with a Stable outlook by Moody’s Investors Service, and A+ with a Stable outlook by Capital Intelligence Ratings.
The establishment of the program forms part of GIB’s ongoing efforts to diversify funding sources while supporting its treasury and liquidity management framework.
