Gulf Bank

• Performance
• Statistics
• Profile
• Financials
• News
• In Depth
• Disclosures
• Press Releases

Recent Articles

• Big Kuwait, Bahrain banks Q3 profits sag on Saudi loans25 October 2009

  Kuwait's Gulf Bank says it expects its bad loans will weigh on company profits up to mid-2010.

• Gulf Bank CEO eyes start of recovery in 201028 September 2009

  Crisis-hit Kuwait bank also says exposure to Saad, Algosaibi would be contained, dealt with.

• Zain Saudi Arabia seals $2.5bn loan11 August 2009

  Facility to be used to repay existing Murabaha, as well as fund network expansion and future growth.

• Gulf Bank makes Q2 loss after H1 Saudi provisions2 August 2009

  UPDATE 2: Analyst expects performance of Kuwait-based bank to improve in H2.

• Gulf Bank reports $20.4m Q2 loss2 August 2009

  The Kuwaiti lender says in a statement it made a net loss in the first half of the year to June 30 of KD7.5m.

• Gulf Bank back to profitability13 May 2009

  Despite improvement at Kuwait-based bank, net profit still down 95% on corresponding quarter last year.

• Kuwait financial sector 'nearly stable'9 May 2009

  Central bank governor says too early to tell whether it has totally overcome impact of global crisis.

• Gulf Bank share price halves as trading resumes14 April 2009

  Kuwaiti bank badly hit by losses in derivative trading and stopped trading last Oct.

• 'Worst over' for Kuwaiti banking sector12 April 2009

  Q1 profits expected to decline year on year, but improve from losses in prior quarter.

• Gulf Bank to make Q1 profit on back of rescue plan11 April 2009

  December's bailout from shareholders covered $1.29bn loss in derivitives.

• Kuwait to launch $275m bond scheme on April 8 6 April 2009

  The new one-year treasury bond is fifth in a year, it will carry 2.25% coupon.

• Kuwait Gulf Bank made $5.52m net loss in Jan23 March 2009

  Start of 2009 shows improvement for troubled bank despite on-going losses.

• Kuwait central bank to issue further tranche of T-bills22 March 2009

  Latest tranche to be issued (92m dinars) carries a coupon rate of 2.25%.

• Kuwait's Gulf Bank posts $1.54bn losses for Q4 200821 March 2009

  Fourth-largest bank suffers full-year net loss for 2008, against net profits, 2007.  

• Kuwait ruler accepts cabinet resignation16 March 2009

  UPDATE 3: Economic stimulus plan under threat as fifth cabinet in two years hands in its resignation.

• Kuwait cabinet approves $1.4bn Gulf Bank issue23 December 2008

  Troubled bank's emergency rights issue authorised after it suffered huge losses.

• Investors throw lifeline to troubled Gulf Bank2 December 2008

  UPDATE 3: Approval by shareholders for $1.3bn emergency rights issue to cover huge losses.

• Gulf Bank not seeking merger23 November 2008

  New chairman says merger not priority until restructuring ordered by Kuwait's central bank is finalised.

• Kuwait's Gulf Bank in $1.4bn capital hike after shock loss17 November 2008

  Entire board resigns as state fund agrees to mop up any shares left unsubscribed.

• Foreign investors 'interested in Gulf Bank stake'12 November 2008

  Noor Financial Investment Co says two institutions mull move for Kuwait bank.

• Moody's downgrades rating for troubled Gulf Bank 11 November 2008

  Agency lowers financial strength rating for Kuwait bank hit by derivatives deal loss.

• Gulf Bank crisis under control, says central bank10 November 2008

  Measures being taken to restore confidence in troubled bank after derivatives loss.

• Saudi lender linked with Gulf Bank takeover9 November 2008

  Unnamed company plans to buy large stake in troubled Kuwaiti bank, reports say.

• Fitch downgrades rating for troubled Gulf Bank7 November 2008

  UPDATE 1: Agency decision comes after Kuwait had to rescue fifth largest lender.

• 'All options' open, says Gulf Bank2 November 2008

  UPDATE 1: Troubled Kuwaiti lender responds to local newspaper reports that board set to resign.