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.

Related:
Companies
Join the Discussion

Disclaimer:The view expressed here by our readers are not necessarily shared by Arabian Business, its employees, sponsors or its advertisers.

NOTE: Comments posted on arabianbusiness.com may be printed in the magazine Arabian Business

Please post responsibly. Commenter Rules

  • No comments yet, be the first!

All comments are subject to approval before appearing

Further reading

Features & Analysis
Trading bricks: The growing popularity of real estate investment trusts in the Gulf

Trading bricks: The growing popularity of real estate investment trusts in the Gulf

Investor interest in real estate investment trusts (REITs) has...

First bank merger in 20 years sets Saudi Arabia up for more deals

First bank merger in 20 years sets Saudi Arabia up for more deals

Q&A look at what the planned merger of HSBC and RBS’s Saudi ventures...

A natural move: How Dubai Chamber is strengthening its ties in Latin America

A natural move: How Dubai Chamber is strengthening its ties in Latin America

With vast resources and more than half-a-billion people, the...

Most Discussed
sponsoredTracking