Below are the financial statements of Gulf Bank KSCP, including the income statement and balance sheet for the company's latest fiscal year. All figures are accurate, verifiable, and fully traceable to the original annual filing where disclosed.
| All figures in millions of KWD | 2024 | 2023 |
|---|---|---|
| Interest income | 403.48a | 369.97a |
| Interest expense | -247.23a | -219.53a |
| Net interest income | 156.25a | 150.44a |
| Net fees and commissions | 25.62a | 26.27a |
| Net gains from dealing in foreign currencies and derivatives | 10.57a | 10.33a |
| Dividend income | 1a | 1.01a |
| Other income | 5.9a | 2.21a |
| Operating income | 199.33a | 190.26a |
| Staff expenses | -53.49a | -53.87a |
| Occupancy costs | -2.78a | -2.99a |
| Depreciation | -8.12a | -7.17a |
| Other expenses | -28.2a | -22.82a |
| Operating expenses | -92.59a | -86.85a |
| Operating profit before provisions/ impairment losses | 106.74a | 103.41a |
| Charge (release) of provisions | — | — |
| Specific | -81.19a | -40.78a |
| General | -46.28a | -0.58a |
| Loan recoveries, net of write-off | 8.65a | -11.6a |
| Net provision on other financial assets | -0.06a | -0.1a |
| Impairment loss on other assets | 0a | -0.07a |
| Operating profit | 63.24a | 74.86a |
| Directors’ remuneration | -0.24a | -0.3a |
| Contribution to Kuwait Foundation for the Advancement of Sciences | -0.63a | -0.75a |
| National labour support tax | -1.57a | -1.85a |
| Zakat | -0.62a | -0.75a |
| Profit for the year | 60.17a | 71.21a |
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