Gulf Bank Says 7.4 Percent Rise In Fourth Quarter Net Profit

Gulf Bank, Kuwait's fourth-largest lender by assets, reported a 7.4 percent rise in fourth-quarter net profit on Monday. The bank said net profit for the three months to Dec. 31 was 10.1 million dinars ($33.1 million), compared with 9.4 million dinars in the year-earlier period, according to Reuters' calculations based on financial statements in lieu of a quarterly breakdown.

Net profit was 42.9 million dinars for the full-year of 2016, according to a bourse filing, compared with 39.0 million dinars for the previous year, it added. The bank's board proposed a cash dividend of 7 fils per share for 2016. This compares with the 2015 payout of 4 fils per share.

 

SOURCE : ARABIANBUSINESS

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