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FinancialNews
18-10-17
Gulf Bank recorded 10 percent growth
(MENAFN) The Kuwait Gulf Bank has recorded a notable increase in profits the first nine months of 2017 of KD36.1 million (USD119.3 million) which equals 10 percent over the same period in 2016.
During the first nine months of 2017, the leading bank in Kuwait was able to create net interest income of KD97.2 million and profit of KD89.7 million, doubling digit growth of 10 percent and 11 percent over the period of last year.
However, expenses remained flat for the first nine months compared to the same period in 2016.
Gulf Bank chairman, Omar Kutayba Alghanim said, "We are pleased with our bank's solid performance in the first nine months of 2017. This has reflected positively on earnings per share as it grew by 10 per cent to 12 fils per share for the first nine months of 2017 compared to the previous year".
MENAFN1810201700450000ID1095959424
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