Gulf Bank holds Q3-2021 earnings webcast

Gulf Bank holds Q3-2021 earnings webcast

KUWAIT: Gulf Bank held its investors webcast to review and discuss the bank’s financial performance during the first nine months of the year 2021 on October 28, 2021. The conference call was organized by EFG Hermes and presented by Tony Daher, Chief Executive Officer of Gulf Bank, and David Challinor, Chief Financial Officer of Gulf Bank. The discussion was moderated by Dalal Al-Dousari, Head of Investor Relations at Gulf Bank.

Tony Daher commenced the webcast with key updates regarding Gulf Bank’s operating environment during the first nine months of the year 2021. Daher commented, “The resumption of economic activities with businesses returning to full capacity and oil prices rising, has in turn improved the confidence and the economic outlook and boosted consumer spending and growth prospects here in Kuwait. The rising consumer spending remains one of the main drivers of Kuwait’s economic recovery, supported by a second six-month loan deferral program for Kuwaiti borrowers and a recent pick-up in consumer loans.”

Profound strategy

Daher Stated: “We managed to grow our business in both the corporate and consumer segments without hindering the quality of our portfolio which remained resilient. This was broadly achieved by our strategy that focuses on:

1. Promoting selective growth in the