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REUTERS
Gulf Bank, Kuwait’s fourth-largest
lender by assets, reported a 34.4 percent rise in second-quarter net profit
on Sunday, as income from fees and investments edged higher. Net
profit for the three months to
June 30 was 11.93 million dinars, compared to 8.88 million dinars in the year-earlier period, a bourse
filing said.Arqaam Capital had forecast Gulf Bank would make a quarterly
profit of 8 million dinars. It attributed the net profit rise to an increase in
fees and commission income and investment income. Fees and commission income reached 7.96 million dinars, up from 7.55 million dinars in the same period of last year. This helped offset a 2.3 percent year-on-year dip in net interest income to 29.37 million dinars.