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Gulf Bank Voted Best Consumer Internet Bank in Kuwait

Kuwait, 7 August, 2007: The prestigious Global Finance magazine has voted Gulf Bank as the best consumer Internet bank in Kuwait, ahead of all other banking institutions in the country in recognition of the bank's commitment to online innovation and customer service.

Gulf Bank participated in the "World's Best Internet Banks" awards in the Middle East/Africa segment. This well established and internationally recognized competition is now in its eighth year and is presided over by a world-class judging panel consisting of representatives from Tata Consultancy Services Ltd., as well as Global Finance editors.

"We are delighted to have achieved this award that recognises our continuing commitment to offering the most modern banking technology to our customers and continually improve the quality of the services we offer. It is a testimony to our prudent business strategy that caters to the high demands of modern banking standards," said Louis Myers, Chief Executive Officer and Chief General Manager of Gulf Bank.

Myers continued, "Moreover, we also believe that a sound Internet banking strategy requires a strong IT security mechanism to safeguard our clients from the world-wide challenges of operating online. At Gulf Bank we have implemented leading security features as part of our commitment to our clients to maximize the flexibility of their services while minimizing the threat of potential external security breaches."

The criteria for selection of winning banks included demonstration of a strong strategy for attracting and servicing online customers, success in client adoption of web offerings, growth of online customers, breadth of product offerings, evidence of tangible benefits gained from Internet initiatives and website design and functionality.

"In less than a decade, the Internet has transformed the way many consumers and most businesses bank," said Joseph D. Giarraputo, publisher of Global Finance. "The continuing improvements in Internet offerings represented by this year's entries show that more significant Internet banking developments are still ahead of us."

Regional and global winners of all the Global Finance awards will be announced at an awards ceremony in New York City in November, as well as being published in the publication's December edition.

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