Kuwait .. Gulf Bank shares rise to its highest level in 160 months

Gulf Bank’s shares, which is running and trading on the Kuwait Stock Exchange, increased by 1.49% during Sunday trading, to trade at 340 fils per share, to record its highest price in 160 months.

5.52 million shares of Gulf Bank shares were traded at that time, with a value of trading 1.88 million dinars.

The highest price for the share at that time was at 344 fils per share, while the share price was at 336 fils per share.

The stock touted its highest price in 13 years, 4 months and 12 days.

Gulf Bank announced that it achieved 14.8% growth in its profits during the fourth quarter of 2024, compared to the same period in the previous year, according to a statement issued by the Kuwait Stock Exchange today, Monday.

The bank recorded profits of 19.95 million Kuwaiti dinars during the last quarter of last year, which ended on December 31, compared to 17.38 million dinars in the fourth quarter of 2023.

Despite this separate growth, the bank’s annual profits witnessed a decline of 15.5%, to reach about 60.17 million dinars in 2024, compared to 71.21 million dinars in 2023.

The Board of Directors of the Gulf Bank recommended distributing cash dividends worth 10 money per share, with a total of 37.93 million dinars, in addition to a grant shares of 5% of the capital, equivalent to about 19.01 million dinars, and the bank’s general assembly agreed to these recommendations.