Gulf Bank records KD 17.3mln in Net Profit for the first quarter of 2023
- Date: 26-Apr-2023
- Source: Zawya
- Sector:Financial Services
- Country:Kuwait
Gulf Bank records KD 17.3mln in Net Profit for the first quarter of 2023
Jassim Mustafa Boodai:
- I am pleased to announce that we have achieved an excellent performance in the first quarter of 2023 with a 15% growth in our net profit, an encouraging start for the remainder of the year.
- We remain focused on creating value for all stakeholders amid fluctuating operating environments.
- We proceed to make excellent progress on our digital transformation initiatives focusing on enhancing our customer experience.
- We have achieved major milestones within our 5year strategy, and we are anticipating further significant accomplishments towards the end of 2025.
- With the establishment of Gulf Bank Capital, the Bank will be offering a full suite of investment products and services through this independent investment subsidiary.
- We persist with our journey of embracing diversity at the workplace stemming from our believe in equal job benefits based on qualifications and competency rather than gender.
Kuwait: Gulf Bank K.S.C.P. announced its financial results for the first three months ending 31 March 2023. The Bank reported a net profit of KD 17.3 million, an increase of KD 2.3 million or 15% compared to 2022 first three months net profit of KD 15 million.
Subsequently, the Bank’s return on assets improved from 0.9% in the first quarter of