Gulf Bank reports steep rise in Q4 net profit
Kuwait, January 23, 2013
Kuwait's Gulf Bank said on Wednesday it had more than doubled its net profit in the fourth quarter and recommended the distribution of five percent bonus shares.
Net profit was KD8.5 million ($30.2 million) for the three months to the end of December, compared to KD3.2 million in the same period a year ago, the bank said in a statement.
The bank's total assets were KD4.8 billion dinars while deposits were 4.1 billion as of Dec. 31, the company said.-Reuters
More Finance & Capital Market Stories
- Nexus launches Kuwait operations
- Tunisia may delay sukuk issue to next year
- Al Baraka Turk planning $200m sukuk
- Kuwait April inflation climbs to 2.8pc y/y
- Bahrain Islamic Bank names new chairman
- Oman 'must consider fiscal reforms as priority'
- Qatar Exchange to start trading govt bonds
- NBK opens new branch in UAE
- Dubai utility repays $871m Islamic bond
- Investcorp buys stake in Saudi energy firm