Gulf Bank Reports KWD 27.4 Million Net Profit in First Half of 2026

Kuwait City, July 29 (KUNA) -- Gulf Bank announced on Wednesday that it achieved net profits of 27.4 million Kuwaiti dinars (approximately $88 million) in the first half of 2026, compared to profits of 24 million dinars (approximately $77.2 million) during the same period in 2025, representing a 14.1 percent increase.

In a press statement, the bank’s chairman, Ahmed Al-Bahar, said that the improvement in net profit for the first half of 2026 was driven by a 1 percent rise in net interest income, alongside strong growth in non-interest income, which increased by 9.6 percent. Specifically, net fee and commission income reached 14.7 million dinars (approximately $47.3 million), up 13.3 percent compared to the same period in 2025.

Al-Bahar added that the bank recorded operating income of 94.3 million dinars (approximately $303.4 million) in the first half of 2026, marking a 2.7 percent increase compared to the same period last year.

He clarified that total credit provisions amounted to 251 million dinars (approximately $807.7 million) in the first half of 2026, while the bank’s specific provisions totaled 177 million dinars (approximately $569 million). This indicates that the bank maintains a healthy level of additional provisions amounting to 74 million dinars (approximately $238 million), significantly exceeding the requirements of International Financial Reporting Standard (IFRS) 9.

He noted that these encouraging results come amid an operational environment filled with challenges and regional tensions since the beginning of the year, emphasizing that the outcomes reflect the strength of the bank’s core banking activities, the solidity of its financial position, and its ability to execute its strategy efficiently and consistently. (End) F.H. / A.M.H.