Gulf Bank 2Q16 net profit rises 34.4% Y-o-Y to KWD11.9mn
Gulf Bank, Kuwait's fourth-largest bank by assets, reported a net profit for 2Q16 of KWD11.93mn, up 34.4% Y-o-Y from KWD8.88mn in 2Q15, according to a bourse filing from the bank. Gulf Bank attributed the earnings growth to a pick-up in fees and commission income and investment income. Fee income reached KWD7.96 mn, up 5.4% Y-o-Y from KWD7.55 mn in 2Q15. This helped offset a 2.3% Y-o-Y dip in net interest income to KWD29.37 mn. (Reuters)
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