Kuwait, 27 June, 2007: The Asian Banker magazine has ranked Gulf Bank as the best retail bank in the Gulf region for people's skills. It has also awarded Gulf Bank the second highest overall ranking among all retail banks in the region.

The region ranking was announced in the final winners' scorecards for The Asian Banker Excellence in Retail Financial Services 2007 Awards Program, the most coveted banking awards program in the Asian region.

Gulf Bank was named Best Retail Bank in Kuwait in The Asian Banker Awards for outstanding performance in 2006.

"The Asian Banker's regional scorecard clearly demonstrates the success of Gulf Bank's investment in the training and development of its staff," commented Mr. Bassam Y. Alghanim, Gulf Bank's Chairman and Managing Director."Not only is Gulf Bank the best retail bank in Kuwait, our staff is acknowledged as the best in the Gulf region for their knowledge, expertise and superior customer service skills."

"Gulf Bank is recognized by the GCC Council of Labour and Social Affairs Ministers as the leading private sector employer of Kuwaiti nationals. We have established an unequaled track record in building rewarding career opportunities. Gulf Bank is truly an employer of choice in the banking and financial services industry."

In its award citation, The Asian Banker noted, "Gulf Bank has been the leader in innovative strategies and products to improve customer service and increase revenue in this market. It initiated longer hours, 24x7 access to customer service agents and personalized ATM's."

"Gulf Bank is the fastest growing retail bank in Kuwait in terms of banking assets and market share. It also has high penetration and efficiency in the distribution channels, as well as an aggressive sales strategy which has helped it increase its deposit base by 55 per cent and to maintain one of the highest cross-sell ratios in the region."

The Asian Banker award follows Gulf Bank's unprecedented third consecutive award for 'Best Retail Bank in the Middle East' by Banker Middle East and 'Best Bank in Kuwait' by Global Finance magazine, making Gulf Bank the region's most awarded retail bank.

The Asian Banker Awards program is refereed by prominent bankers, consultants and academics from around the world. It uses a transparent scorecard to assess the winners and the position of the different retail banks in the region.

The award evaluation process uses a comprehensive methodology to evaluate the strength of individual banks' retail banking businesses, including extensive research and penetrating interviews, and taps the combined experience of a team of experienced researchers. An AC Nielsen customer perception survey is also incorporated to gauge the strength and reputation of retail banks in the different countries.

Gulf Bank received The Asian Banker Excellence in Retail Financial Services 2007 Award in a ceremony at the Pudong Shangri-La Hotel in Shanghai last month. Gulf Bank joined award winning banks from 22 countries across the Asia Pacific, the Gulf region and Central Asia at the star-studded celebration of the region's most outstanding retail banks.

The Asian Banker Excellence in Retail Financial Services 2007 Scorecards

1. Gulf Region Scorecard

2. Kuwait Country Scorecard