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