Gulf Bank posts 10% rise in Q1 net income

April 16, 2014 9:28 am

Kuwait lender, Gulf Bank has reported a 10% jump in first-quarter net profit, missing analysts’ estimates, Reuters has reported. The country’s fourth-largest lender by assets said net profit for the three months to the end of March was KD8.73m ($31.1m), compared with KD7.94m in the same period a year ago. Analysts at Global Research and Arqaam Capital had forecast a net profit in the period of KD9m and KD10m, respectively.