Transforming the Bank's risk function into a world class one

Kuwait, 30 May 2010: Gulf Bank has finalized an agreement for purchase and implementation of an Enterprise-Wide Risk Management System from SunGard, one of the world's leading software and technology services companies. The implementation will be done by AFS, Bahrain / Sungard. 

Gulf Bank will use SunGard's system for four separate risk management streams, namely, Capital Computation under Basel II for credit, market and operational risks, Asset Liability Management (ALM) & Funds Transfer Pricing (FTP), Market Risk Management, which covers the banking and trading books and Operational Risk Management.

Mr. Michel Accad, Gulf Bank's Chief General Manager and CEO said, "We are delighted that we are now in a position to implement SunGard's Enterprise-wide Risk Management system. This is an important milestone for us as it raises the bar in Risk Management standards in Kuwait.

"We are the first bank in Kuwait to have the full suite of SunGard solutions, covering Basel II Capital Computation, Market Risk, Operational Risk and ALM (Asset Liability Management) and FTP (Funds Transfer Pricing) applications. This integrated system will provide a centralized view of risk and liquidity across many of the Bank's key functions, helping us to take more informed decisions and maximize our returns over both short-term and long-term horizons", added Mr. Accad.

Overall, every aspect of this new system is designed to help Gulf Bank continue to deliver superior banking solutions and services, which are being constantly tailored to cater to the needs of its wide customer base. It reflects the success of the Bank's disciplined growing business strategy across all its key business groups, namely, Consumer, Corporate, international and investment Banking.

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About SunGard
SungGard is one of the world's leading software and technology services companies.  SunGard has more than 20,000 employees and serves 25,000 customers in 70 countries.  SunGard provides software and processing solutions for financial services, higher education and the public sector.  SunGard also provides disaster recovery services, managed IT services, information availability consulting services and business continuity management software.  With annual revenue exceeding $5 billion, SunGard is ranked 380 on the Fortune 500 and is the largest privately held business software and IT services company. For more information, please visit SunGard at www.sungard.com

© Press Release 2010