Gulf Bank KSCP (GBK)

Mubasher: Boursa Kuwait on Monday announced that Gulf Bank has sold its 22.05 million-share stake in Kuwait Finance and Investment’s (KFIC) capital to Abdullah Al Hamad Al Saqr and Brothers Co. The sale process was carried out via an agreed …

Mubasher: Moody's Investors Service has affirmed Gulf Bank's long-term deposits at ‘A3’ and the short-term deposits at ‘P-2’. The rating agency has also changed the bank's outlook to ‘Stable’ from ‘Positive’, according to a bourse statement on …

Mubasher: Gulf Bank’s ordinary general meeting (OGM) consented to the proposed cash dividend distribution of 11 fils per share or 11% of the share’s nominal value for the fiscal year (FY) 2019 after deducting treasury stocks. Shareholders …

Mubasher: Gulf Bank of Kuwait (GBK) has named a new board of directors effective as of Wednesday, 4 March.  The new board will be chaired by Jassim Mustafa Jassim Boodai, succeeding Omar Kutayba Yousif Al Ghanim, who will be become a board …

Mubasher: The net profit of Gulf Bank of Kuwait (GBK) surged by 12.2% on an annual basis over the fiscal year ended 31 December 2019 to reach KWD 63.64 million ($209.69 million) when compared to KWD 56.74 million ($186.9 million).  Earnings per …

Mubasher: The National Bank of Kuwait (NBK) and the Kuwait Finance House (KFH) have jointly managed and issued a KWD 350 million ($1.2 billion) financing to the Kuwait Petroleum Corporation (KPC). The two banks were chosen by KPC to manage …

Mubasher: Standard & Poor’s (S&P) Financial Services maintained its credit rating of Gulf Bank of Kuwait (GBK) at ‘A-,’ with a ‘Stable’ outlook, the bank disclosed Boursa Kuwait on Tuesday. The rating reflected the GBK’s position as Kuwait’s …

Mubasher: The financial statements of Gulf Bank of Kuwait (GBK) showed a 17.1% year-on-year decline in profits during the third quarter of 2019. The profits decreased to KWD 13.154 million during Q3-19 when compared to KWD 15.866 million in the …

Mubasher: Fitch Rating affirms the long-term issuer default rating (IDR) of Gulf Bank of Kuwait (GBK) at ‘A+’ and the short-term IDR at ‘F1’, with a ‘Stable’ outlook. Additionally, the agency has affirmed GBK’s financial Viability Rating (VR) at …

Mubasher: The stock of the Gulf Bank of Kuwait (GBK) retreated by 0.68% or 2 fils to reach 294 fils, the lowest level in six months. By 10:30 am Kuwait time, the performance of the GBK’s stock was in contrast with the banking sector which gained …

By: Mohamed Farouk Mubasher: Boursa Kuwait announced selling 16.081% of the Gulf Bank of Kuwait’s (GBK) capital in favour of Al Ghanim Trading Co. at an initial price of 312 fils per share. Around 490.16 million shares in the bank were sold by …

Mubasher: Capital Intelligence Ratings (CI Ratings) affirmed the rating of KWD 100 million Basel III-compliant Tier 2 subordinated bond issued by Gulf Bank at 'BBB+', with a stable outlook. CI ascribed its decision to the bank’s well-established …

Mubasher: Gulf Bank of Kuwait (GBK) on Wednesday posted it has generated a net profit of KWD 12.2 million ($40.2 million) during the second quarter of 2019, down 23.8% year-on-year from KWD 16 million ($52.7 million). In the first half of 2019, …

By: Mohamed Farouk Mubasher: Ten Kuwaiti banks listed on Boursa Kuwait are expected to achieve an increase of 9.6% in profits during the first half of 2019, compared to the year earlier, capital market analyst Ahmed Jassim Al Qamr told Mubasher. …

Mubasher: The Gulf Bank of Kuwait (GBK) said that Kuwait Investment Authority (KIA), a state-run sovereign investor, seeks to sell its stake in the bank. KIA holds a direct stake of 16.081% in GBK, with around 490.157 million shares, according to …

Mubasher: The research unit of the Qatar National Bank (QNB) on Thursday recommended the building of positions in Gulf Bank of Kuwait’s (GBK) stock, setting the target price at 345 fils per share. Since 17 December 2018, the stock grew 15%, which …

Mubasher: The Gulf Bank of Kuwait (GBK) achieved an increase of 9% in net profits during the first quarter of 2019 compared to the same period in the previous year. Earnings totalled KWD 11.8 million ($38.8 million) in Q1-19, according to a press …

Mubasher: The Gulf Bank of Kuwait (GBK) on Tuesday announced signing a partnership deal with Dell Technologies for a digitally transformative project. Under the new agreement, the Kuwaiti lender will tap the US firm’s leading storage management …

Mubasher: The Gulf Bank of Kuwait (GBK) announced that a board member has sold 31.24 million shares of the bank’s capital during Wednesday. The board member Jassim Mustafa Jassim Boodaihas sold this equity for 291 fils per share at a total value …

Mubasher: The Gulf Bank of Kuwait (GBK) announced that its ordinary general meeting (OGM) on Monday approved the board’s recommendation of distributing 10% of the share’s capital as cash dividends for fiscal year 2018. GBK will pay 10 fils per …

Mubasher: The UK-headquartered Kodak Alaris business has played a leading role in the digital transformation journey of the Gulf Bank of Kuwait (GBK), according to a recent press release. GBK announced it has digitised 50 million documents by …

Mubasher: The Gulf Bank of Kuwait (GBK) registered an increase of 18.2% year-on-year in profits during fiscal year 2018. Earnings grew to KWD 56.74 million ($187.5 million) in FY18 from KWD 48.02 million ($158.7 million) in FY17, according to a …

Mubasher: Alghanim Trading Company on Sunday announced its agreement to more than double its stake in Gulf Bank of Kuwait (GBK) to around KWD 266.860 million ($880 million) holding. The second-biggest shareholder in the Kuwaiti lender made …

Mubasher: The Gulf Bank of Kuwait (GBK) announced that the Central Bank of Kuwait (CBK) has approved a request for Alghanim Trading Group to raise its stake in the bank. The CBK approved increasing Alghanim’s stake in the Kuwaiti lender to …

Mubasher: Four Kuwaiti banks ranked among the top 500 valuable lenders in terms of market capitalisation in 2019, led by the National Bank of Kuwait (NBK), according to the Banker’s Brand Finance Global 500 2019 report. NBK’s global ranking fell …