Gulf Bank approves distributing cash dividends of 10 fils per share for 2022

Gulf Bank approves distributing cash dividends of 10 fils per share for 2022

KUWAIT: Gulf Bank concluded its Ordinary Annual General Meeting (AGM) No 64, and Extraordinary General Meeting (EGM) No 41, held at the bank headquarters, Mubarak Al-Kabir Street – Kuwait on March 18, 2023, with a 76.79 quorum. Electronic voting was conducted during the general assembly for the first time.

Gulf Bank’s Chairman Jasem Mustafa Boodai commenced the meeting by welcoming the shareholders and highlighting the bank’s major business and strategic accomplishments throughout 2022. He added: “The bank’s 2022 results demonstrate excellent strategic progress with Gulf Bank delivering strong net profit, sustained by the growth momentum in our core businesses.

We are reaping the benefits of our strategy to stay locally focused and addressing the changing needs of our customers through digital innovation, continued investment in differentiated customer solutions and human capital. We made tremendous strides towards our key strategic priorities centered around digital transformation initiatives to improve the customer experience, accelerate development and further drive operational efficiencies. We are aiming to generate strong and sustainable long-term value to all our stakeholders.”

Boodai noted: “That the economy continued to show resilience and positive signals during the year 2022, despite a challenging global market and an uncertain global economic outlook. These challenges included high inflation