Kuwait's Gulf Bank, the state's fourth-largest lender by assets, reported a 28.7 per cent jump in second-quarter net profit on Tuesday on the back of higher net interest income.

The bank said in a bourse filing that net profit for the three months to the end of June was KD8.88 million ($29.4 million), compared to KD6.90 million in the year-earlier period.

Global Investment House forecast the bank would post net profit of KD11.08 million during the quarter.

Gulf Bank attributed the net profit rise to improved core profitability mainly due to higher net interest income, which rose 5.7 per cent to KD30.08 million.

This resulted in a 5 per cent growth in operating profit, Gulf Bank added.  - Reuters