Kuwait’s Gulf Bank third-quarter net profit up 10%

Dubai: Gulf Bank, Kuwait’s fourth-largest lender by assets, reported a 10 per cent rise in third-quarter net profit on Sunday. The bank’s net profit for the three months to September 30 was 12.1 million dinars ($40.1 million, Dh146 million), compared to 11.0 million dinars in the same period of last year, a bourse filing said.

Net interest income rose to 29.1 million dinars in the third quarter of 2016 from 28.4 million dinars a year earlier, while fees and commissions rose to 7.8 million dinars from 7.0 million dinars in the year earlier period.