Gulf Bank said it was making arrangements to provide KD300 million ($1.04 billion)additional corporate financing to the market to assist Kuwait’s economy overcome the effects of the global financial crisis.

This move is in line with the bank's support of the new financial stability law, the bank said in a statement.

With this objective Gulf Bank aims to play its part in kick starting an economic revival in Kuwait and is actively looking for opportunities to assist productive corporations and companies as they invest for the future, it added.

Gulf Bank has historically been a leader in supporting the credit needs of Kuwaiti business, stated Gulf Bank chairman Ali Al-Rashaid Al-Bader.

“We support the government’s action in bringing in this law and look forward to helping Kuwait return to maximum prosperity through our support of individual companies and its development plans,” he noted.

"Gulf Bank’s positive performance in the first quarter of this year demonstrates that the bank is now positioned for continued future success."

"The bank is committed to maximizing shareholders’ returns and to provide our customers with world-class standards in customer satisfaction, product innovation and competitive value," he added.-TradeArabia News Service