As part of the Bank’s strategic aim to support the vital SME segment and contribute to its growth in the local economy
Kuwait, 15 August 2021: Gulf Bank is offering small and medium-sized enterprises (SMEs) comprehensive business and transaction advisory services to support their business activity and growth, as part of a collaboration with Balance Business Advisory. Gulf Bank’s latest initiative comes as part of its strategic aim to grow and expand its portfolio of products and transaction banking services, in addition to providing an unparalleled customer experience for corporate clients and support for the SME sector. To further encourage SMEs to take advantage of the latest services offered, Gulf Bank is offering its clients a 15% discount with Balance Business Advisory.
As part of Gulf Bank’s collaboration with Balance Business Advisory, SMEs will be able to enjoy access to a range of competitive and useful services and products for the first time. These services include business valuations, transaction advisory, feasibility and case studies, cost management, pricing strategies, and a multitude of other advisory services.
The latest initiative by Gulf Bank aims to support the small business segment in light of what has undoubtedly been a challenging year for SMEs, expanding on the range of non-financing services offered to SMEs. As part of the new partnership with Balance Business Advisory, clients can also take advantage of post-pandemic advisory services, including capital restructuring, budget revaluation, and turnaround strategies in hopes of making better financial decisions and aligning their long-term financial goals.
Regarding this initiative, the Assistant General Manager of Corporate Banking at Gulf Bank, Meshal AlWazzan, “Although business advisory services have traditionally been limited to larger corporations in the past, Gulf Bank is proud to be the first local bank to offer these necessary services to the SME segment. It is no secret that SMEs play an increasingly crucial role in Kuwait’s economic diversification, creating job opportunities for locals and raising the value of entrepreneurship. By offering these vital services to an equally vital segment, Gulf Bank aims to support SMEs to not only overcome the unforeseen challenges of this past year, but to also ensure that their businesses are standing on ground that is more solid than ever moving forward. Through our latest initiative with Balance Business Advisory, we hope to assist and rescue SMEs that have been affected by the pandemic, in addition to offering a range of other advisory services tailored to the SME segment. Through these efforts and more, Gulf Bank aims to offer even more services that can assist the small and medium-sized enterprises that are partnered with Gulf Bank, and contribute to the growth of this vital segment in the country.”
It is worth noting that Gulf Bank is currently serving more than 7,000 companies through its business sector and across all branches. Gulf Bank currently offers companies the opportunity to conduct most of their corporate banking transactions online, including collection and payment services, employee salary transfers, point-of-sale services, payment gateways and payment links, in addition to the ability to open all kinds of accounts, issue debit cards, and apply for SME financing solutions.
Earlier this year, Gulf Bank also launched a dedicated website through which SMEs can communicate with the Bank to inquire about commercial banking services and facilitate both financing and non-financing requests. For more information regarding the various services Gulf Bank provides to SMEs, the Bank also launched a dedicated website for small businesses: https://www.e-gulfbank.com/en/sme
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