The Gulf's 50 Biggest Companies
Thu 21 Apr 2011 09:35 AM
Gulf Bank

Gulf Bank

Industry: Banking & Finance

Company: Gulf Bank

Country: Kuwait

Wealth: 4.63 Billion

Kuwait’s Gulf Bank posted a net profit of $68.9m in 2010, a sizeable recovery from the $101.4m loss it reported in 2009. In February of 2011, the bank announced that it had booked provisions worth $403.3m in 2010 to meet losses arising from its credit portfolio. Kuwait Investment Authority owns a 16 percent stake in the bank.