Kuwait's fourth-largest lender says net profit for the quarter reached more than $34m
Gulf Bank, Kuwait's fourth-largest lender by market value, reported a 5.6 percent rise in third-quarter net profit, the bank said in a bourse filing on Tuesday.
Net profit for the three months ending September 30 was KD9.62m ($34.1m), compared with KD9.11m in the same period a year ago, the bank said in the statement.
Arqaam Capital had forecasted Gulf Bank would make a KD10m profit in the third quarter.
The bank's chief executive said in September that the lender had been selected as a lead manager to help finance two major energy projects in Kuwait.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.