Kuwait's second largest commercial bank, Gulf Bank, recently announced that it has recorded an 18.9 percent rise in its annual net profits, reaching 42.1 million Kuwaiti dinars ($137 million) in 2001, compared to $115 million in the previous year 2000.
The bank’s return on assets rose by 2.39 percent and return on equity increased by 21.9 percent, according to a bank press release. The bank’s earnings per share increased to 51.9 fils ($1.70).
The bank operates 25 branches throughout the Gulf state, and is listed on the Kuwait Stock Exchange.
Kuwait’s largest bank, the National Bank of Kuwait (NBK), recently reported a record net profit of $342 million for the year 2001, up from $327 million in the previous year. NBK’s return on equity (ROE) advanced to 25.4 percent and the return on assets (ROA) rose to 2.57 percent. — (menareport.com)
© 2002 Mena Report (www.menareport.com)
