Net profit in the three months to Sept. 30 came in at 9.1
million dinars ($33.1 million), up from 8.4 million dinars in the year-earlier
period, it said in a statement on the Kuwaiti bourse website.
"The results we have announced today show the stable
growth of the bank's customer base, and continued growth of net profits and
core earnings," Chairman Ali Al-Rashaid al-Bader said in a separate
statement.
Gulf Bank said it made a net profit of 27.4 million
dinars in the first nine months of the year.
The bank which was rescued by the Kuwait's central bank
in 2008, has been steadily recovering from its crisis, when it faced big losses
related to derivatives. Its chairman said earlier this year that it had covered
all residual losses stemming from 2008.
"The last two years have seen us put Gulf Bank back
into a winning position, we have strengthened our balance sheet
significantly," Bader said in the statement.
The lender's shares closed flat on Wednesday at 0.54
dinars. The results were released after the market closed.
