Gulf Bank Q3 net profit rises 5.6pc
Kuwait, October 30, 2012
Gulf Bank, Kuwait's fourth-largest lender by market value, reported a 5.6 percent rise in third-quarter net profit, the bank said in a bourse filing on Tuesday.
Net profit for the three months ending September 30 was KD9.62 million ($34.1 million), compared with 9.11 million dinars in the same period a year ago, the bank said in the statement.
Arqaam Capital had forecasted Gulf Bank would make a KD10 million profit in the third quarter.
The bank's chief executive said in September that the lender had been selected as a lead manager to help finance two major energy projects in Kuwait. – Reuters
More Finance & Capital Market Stories
- Saudi rallies ahead of 2014 budget speech
- Qatari oil, gas to have limited impact on GDP growth
- Xerox Emirates, Asseco offer banking solutions
- Omani bank rolls out home finance products
- NBAD steps up hiring ahead of Expo boom
- Acuma names new UAE head
- Qatar says no plans to issue international debt in 2014
- Motivation 'is crucial for growth'
- Islamic banking ‘sustainable way forward’
- Top Swiss group acquires Merrill Mideast units