Kuwait's Gulf Bank posts 2.4% rise in Q3 net profit

Gulf state's fourth-largest lender has yet to name new CEO after Michel Accad resigned

Kuwait's Gulf Bank posted a 2.4 percent rise in net profit in the third quarter, Reuters calculations showed on Thursday.

Net profit in the three months to the end of September was KD9.86m ($35 million) compared to KD9.63m in the same period a year ago, a Reuters calculation based on nine-month figures showed.

Gulf Bank, Kuwait's fourth-largest lender by market value, has yet to name a new chief executive after Michel Accad resigned earlier this month for personal reasons. He will continue in his position until early next year.

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