Gulf Bank holds its year-end 2022 earnings webcast

Gulf Bank holds its year-end 2022 earnings webcast

KUWAIT: Gulf Bank held its investors webcast on February 6, 2023 to present and discuss the bank’s financial performance for year-end2022. The webcast 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.

Operating environment

Tony Daher commenced the webcast with key updates regarding Gulf Bank’s operating environment for year-end 2022. Daher stated, “Our results of 2022 demonstrate good progress with Gulf Bank delivering strong financial performance, and our core businesses sustaining good growth momentum. We also made tremendous progress on our strategy and digital transformation initiatives, in line with our long-term plan to deliver sustainable value to all our stakeholders.”

Daher added: “In 2022 the bank realized the benefits of its Kuwait-focused strategy and is proactively meeting the changing needs of our customers. The Kuwait economy continued to recover in 2022, and demonstrated resilience and positive signals, despite l challenging global markets and political situation. These challenges included high inflation, tighter monetary policy, and the war in Ukraine, amongst others. However, the local economic stability is supported by relatively good oil prices, recovery