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 member, according to a bourse disclosure.     

The other six members of the board will maintain their posts, along with Ali Murad Yousef Behbehani who will remain the bank’s deputy chairman.  

It is worth noting that over the fiscal year ended 31 December 2019, the net profit of GBK surged by 12.2% on an annual basis to reach KWD 63.64 million ($209.69 million) compared to KWD 56.74 million ($186.9 million) in 2018.