RIYADH: The Gulf Bank of Kuwait has seen its net profit increase by 46 percent during 2021.
The bank recorded a net profit of 42.1 million Kuwaiti dinars ($139 million), compared to 28.8 million a year earlier, it said in a statement to the Kuwaiti bourse.
Profit growth was mainly driven by higher operating income which rose by 11.8 million Kuwaiti dinars year-on-year, as well as lower provisions and impairment losses.
Shareholders will receive a cash dividend of seven fils per share and five bonus shares for every 100 shares for 2021, the bank added.
Founded in 1960, Gulf Bank of Kuwait is one of the leading banks in Kuwait offering consumer banking, wholesale banking, treasury, and financial services.