Gulf Bank post profits totaling KD 39 mln end of '15

KUWAIT, Jan 28 (KUNA) — Gulf Bank posted a total profits of KD 39 million, with 0.13 Fils per-share at the end of fiscal year 2015, compared to total profit of KD 35.4 million, 0.12 Fils per-share in the year 2014.
The bank’s board of directors also recommended distributing cash up to four percent to shareholders for the fiscal year 2015, Gulf bank said in a press release, on Thursday, on Kuwait Stock exchange website.
The bank added the total value of shareholders rights reached KD 538 million, when compared to the end of previous year, which totaled KD 511 million.
The statement noted that the bank’s assets reached KD 5.43 billion and liabilities reached KD 4.89 billion for the year 2015, compared to the same period of previous year which reached KD 4.81 billion.
Gulf Bank was established in 1960 and has since progressed to becoming an industry-leading financial services provider with a large network of 56 branches strategically positioned in key locations in Kuwait. (end) fh.mb