Gulf Bank’s new Chairman Omar Qutayba Al Ghanim (right) sits next to outgoing Chairman Mahmoud Al Nouri ahead of the bank’s annual general meeting in Kuwait City, yesterday.
KUWAIT: Omar Qutayba Al Ghanim has been appointed chairman of Kuwait’s Gulf Bank KSC, it said in a statement yesterday.
Alghanim’s appointment, for a two-year term, came after former chairman Mahmoud Al Nouri stepped down earlier this month on health grounds, the bank said.
The bank said in January it had more than doubled its net profit in the fourth quarter and recommended the distribution of five percent bonus shares.
Net profit was KD8.5m ($30.2m) for the three months to the end of December, compared to KD3.2m in the same period a year ago, the bank said in a statement.
The bank’s total assets were KD4.8bn while deposits were KD4.1bn as of December 31, the statement said. Reuters