Sezer Bueno Chief Executive Officer of Gulf Bank of Kuwait said the bank's market share of local market stands at around 15%.

Bueno who was cited by CNBC Arabia noted that the bank seeks to boost market share through providing customers with optimum and innovative products.

The lenders net profit stood at KW26.5 million for the first nine months of 2014, up 10% against KWD24.1 million for the same period last year.

operating profit before provisions reached KWD79.8 million for the first nine months of 2014 , while the bank's total assets were KWD5.9 billion, deposits stood at KWD4.19 billion and total shareholders' equity was KWD509 million.

Commenting on the results, Bueno said: "I am pleased to share with you our results for the third quarter of the year. These results reflect steady growth of the Bank's net profit, and demonstrate Gulf Bank's ability to grow and improve its profits in a highly competitive market."