Kuwait's Gulf Bank Q3 net profit rises 5.6 pct
Tuesday, 30 October 2012
DUBAI: 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 9.62 million dinars ($34.1 million), compared with 9.11 million dinars in the same period a year ago, the bank said in the statement.
Arqaam Capital had forecasted Gulf Bank would make a 10 million dinars 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. ($1 = 0.2812 Kuwaiti dinars) (Reuters)