Arab Today, arab today gulf bank posts 355m kuwaiti dinar in net profit for 2014
Last Updated : GMT 20:38:10
Arab Today, arab today
Arab Today, arab today

Gulf Bank posts 35.5m Kuwaiti dinar in net profit for 2014

Arab Today, arab today

Arab Today, arab today Gulf Bank posts 35.5m Kuwaiti dinar in net profit for 2014

Gulf Bank
Kuwait - KUNA

The Gulf Bank has announced an operating profit before provisions of KD 106.8 million for the year ending 2014 and a net profit at KD 35.5 million, up a 10 percent over 2013.
In a report issued Tuesday, the Bank said that it's total assets reached KD 5.3 billion at the end of December 2014.
"There has been a significant gain in market share in loans, mainly attributable to the 23 percent growth in retail loans. Overall, this resulted in a growth of 9 percent vs. the 6 percent market growth," reads the report.
"The growth in low cost deposits was16 percent increasing the total deposits at the bank to KD 4,340 million. Total shareholders' equity increased to KD 511 million from KD 483 million in 2013." The Bank maintained its positive trend of reducing the non-performing loan ratio which decreased from 6.5 percent at the beginning of the year to 3.2 percent by December 2014 and increased the total coverage ratio of non-performing loans to 266 percent.
The Gulf Bank's Board of Directors have recommended a stock dividend of 5 per cent (5 shares for every 100 shares held), for approval at the Shareholders meeting.
"Gulf Bank is today a great and strong bank. It has overcome the difficult times in an admirable way. The strategy is clear and the mandate of the Board is to grow," Gulf Bank's Chairman Omar Kutayba Alghanim said commenting on the results.
"In wholesale, we will reinforce our advisory and products capabilities. In Retail, products and newer channels are being upgraded. Everything we do will be upgraded under strict risk criteria, as per our policies that have helped make Gulf Bank safe and sound." Alghanim concluded that: "I can confidently say that Gulf Bank has culminated its transition and has started a new path after completing its recovery."

Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

Arab Today, arab today gulf bank posts 355m kuwaiti dinar in net profit for 2014 Arab Today, arab today gulf bank posts 355m kuwaiti dinar in net profit for 2014

 



Arab Today, arab today
Arab Today, arab today Ideen Belmahdy happy to be part of “ Fashion Star”

GMT 17:00 2017 Sunday ,26 February

Ideen Belmahdy happy to be part of “ Fashion Star”
Arab Today, arab today Tourist guide explains types of tourism

GMT 18:28 2017 Saturday ,25 February

Tourist guide explains types of tourism
Arab Today, arab today Expresses Algerian history by woody figures

GMT 13:26 2017 Friday ,24 February

Expresses Algerian history by woody figures
Arab Today, arab today Iran complying with nuclear deal

GMT 07:14 2017 Saturday ,25 February

Iran complying with nuclear deal
Arab Today, arab today Ayat Abaza says state TV presented major stars

GMT 03:52 2017 Sunday ,26 February

Ayat Abaza says state TV presented major stars
View News in Arabic - Business: مصارف
Arab Today, arab today
Arab Today, arab today
Arab Today, arab today Reading therapy relieves mental disorders

GMT 15:39 2017 Friday ,24 February

Reading therapy relieves mental disorders
Arab Today, arab today UK appoints 1st Scotland Yard chief in 188 years

GMT 05:14 2017 Thursday ,23 February

UK appoints 1st Scotland Yard chief in 188 years
Arab Today, arab today Penguins in the age of dinos

GMT 11:44 2017 Saturday ,25 February

Penguins in the age of dinos
Arab Today, arab today Pluto's unruly moons

GMT 06:31 2015 Thursday ,04 June

Pluto's unruly moons
Arab Today, arab today 'Constructive' Vauxhall talk with union

GMT 08:54 2017 Saturday ,25 February

'Constructive' Vauxhall talk with union
Arab Today, arab today Tesla back into red but revenue grows

GMT 07:27 2017 Thursday ,23 February

Tesla back into red but revenue grows
Arab Today, arab today Ola Ghanem hopes to work with M.Ramadan

GMT 07:23 2017 Friday ,24 February

Ola Ghanem hopes to work with M.Ramadan
Arab Today, arab today Ex-yoga missionary unleashes rage

GMT 12:16 2017 Thursday ,23 February

Ex-yoga missionary unleashes rage

GMT 06:08 2017 Thursday ,23 February

Actress Lobna Abdel Aziz proud of her career

GMT 12:35 2017 Tuesday ,21 February

63-Year-Old Woman Delivers Baby

GMT 13:47 2017 Friday ,24 February

Rabia Fatima reveals role of "Facebook" in her career

GMT 10:28 2017 Wednesday ,22 February

Milan laughs while Rome cries

GMT 20:33 2017 Friday ,17 February

To release new antiques collection

GMT 10:20 2017 Thursday ,23 February

Brazil's top diplomat resigns

GMT 11:54 2017 Thursday ,23 February

Saudis await visitors but will they come?

GMT 13:12 2015 Saturday ,09 May

Sheikh Sultan opens Sharjah Centre
Arab Today, arab today
Arab Today, arab today
 
 Arab Today Facebook,arab today facebook  Arab Today Twitter,arab today twitter Arab Today Rss,arab today rss  Arab Today Youtube,arab today youtube  Arab Today Youtube,arab today youtube
arabstoday arabstoday arabstoday arabstoday
arabstoday arabstoday arabstoday
arabstoday
بناية النخيل - رأس النبع _ خلف السفارة الفرنسية _بيروت - لبنان
arabstoday, Arabstoday, Arabstoday