Gulf Bank holds H1 earnings webcast

Gulf Bank holds H1 earnings webcast

KUWAIT: Gulf Bank held its investors webcast on Tuesday (Aug 1) to present and discuss the bank’s financial performance for H1-2023. The webcast was organized by EFG Hermes and presented by Waleed Mandani, Deputy Chief Executive Officer & Acting 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. Operating environment Waleed Mandani commenced the webcast with key updates regarding Gulf Bank’s operating environment for the first half of 2023.

Mandanistated: “We remain optimistic about the opportunities presented by Kuwait’s economy as it continues to be generally healthy. We are also witnessing a relative stability in the political landscape, which will lay the foundation for potential government reforms, and further enhancement of the operating environment and outlook of the country.” He added:“We have closely monitored the banking sector performance, which has experienced a slowdown in loan growth in recent months, especially with the rising interest rate environment and inflation. We acknowledge these industry-wide challenges and have proactively taken steps to navigate this environment effectively.

Our focus on prudent risk management and strategic initiatives ensures that we maintain stability and drive sustainable growth.” On