Kuwait's Gulf Bank reported a four per cent rise in 2013 net profit on Tuesday and said it would pay a dividend of five per cent through an issue of bonus shares.

Kuwait's fourth-largest lender by assets said full-year net profit was KD32.16 million ($113.94 million), compared with KD30.89 million in the same period a year ago.

It gave no quarterly figures and did not give details on who would succeed chief executive Michel Accad, announced in October that he was resigning for personal reasons. - Reuters