Kuwait's Gulf Bank missed analyst estimates despite reporting a 10 percent increase in first-quarter net profit on Monday.
The country's fourth-largest lender by assets said net profit for the three months to the end of March was KD8.73 million ($31.1 million), compared to KD7.94 million in the same period a year ago.
Analysts at Global Research and Arqaam Capital had forecast a net profit in the period of KD9-10 million respectively.
In March, the bank named Cesar Gonzalez-Bueno as chief executive, replacing Michel Accad who resigned in October last year.For all the latest banking and finance news from the UAE and Gulf countries, follow us on Twitter and Linkedin, like us on Facebook and subscribe to our YouTube page, which is updated daily.
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