Gulf Bank KSCP (GBK) News - Mubasher Info
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16 February 12:38 PM

Gulf Bank KSCP (GBK`R)

Last update: 01:09 PM market time.
340.00
13.00
3.98%
Open 339.00
Previous Close 327.00
High 341.00
Low 338.00
Stock Statistics
Volume 3,084,889
Turnover 1,046,969.72
All data are 15 minutes late during market session

News

The sale transaction is valued at KWD 1.1 million
18 May 2020 01:32 PM Gulf Bank sells stake in KFIC
Mubasher: Boursa Kuwait on Monday announced that Gulf Bank has sold its 22.05 million-share stake in Kuwait Finance and Investment’s (KFIC) capital to Abdullah Al Hamad Al Saqr and Brothers Co. The sale process was carried out via an agreed …
Banking and Finance
The bank's Baseline Credit Assessment was affirmed at ‘ba1’
17 May 2020 09:51 AM Moody's changes Kuwait's Gulf Bank outlook to ‘Stable’
Mubasher: Moody's Investors Service has affirmed Gulf Bank's long-term deposits at ‘A3’ and the short-term deposits at ‘P-2’. The rating agency has also changed the bank's outlook to ‘Stable’ from ‘Positive’, according to a bourse statement on …
Banking and Finance
The OGM approved distributing a remuneration of KWD 135,000 to board members
1 April 2020 08:25 AM GBKs's OGM nods to 11 fils/shr dividends for FY19
Mubasher: Gulf Bank’s ordinary general meeting (OGM) consented to the proposed cash dividend distribution of 11 fils per share or 11% of the share’s nominal value for the fiscal year (FY) 2019 after deducting treasury stocks. Shareholders …
Board of Directors
Jassim Boodai has been named at the bank's new chairman
4 March 2020 02:33 PM GBK appoints new chairman
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 …
Management Decisions
Earnings per share (EPS) amounted to KWD 21.96 last year
9 February 2020 01:16 PM GBK’s profits up 12.2% in 2019; dividends proposed
Mubasher: The net profit of Gulf Bank of Kuwait (GBK) surged by 12.2% on an annual basis over the fiscal year ended 31 December 2019 to reach KWD 63.64 million ($209.69 million) when compared to KWD 56.74 million ($186.9 million).  Earnings per …
Banking and Finance
Photo Archive
5 November 2019 01:05 PM KPC obtains KWD 350m financing from local banks
Mubasher: The National Bank of Kuwait (NBK) and the Kuwait Finance House (KFH) have jointly managed and issued a KWD 350 million ($1.2 billion) financing to the Kuwait Petroleum Corporation (KPC). The two banks were chosen by KPC to manage …
Sukuk and Islamic Finance
The rating reflected the GBK’s position as Kuwait’s fourth biggest commercial bank
29 October 2019 01:24 PM S&P maintains GBK’s ‘A-’; outlook stable
Mubasher: Standard & Poor’s (S&P) Financial Services maintained its credit rating of Gulf Bank of Kuwait (GBK) at ‘A-,’ with a ‘Stable’ outlook, the bank disclosed Boursa Kuwait on Tuesday. The rating reflected the GBK’s position as Kuwait’s …
Ratings
Earnings per share dropped by 12.9% to 12.8 fils
23 October 2019 09:46 AM GBK logs 17% lower profits in Q3-19
Mubasher: The financial statements of Gulf Bank of Kuwait (GBK) showed a 17.1% year-on-year decline in profits during the third quarter of 2019. The profits decreased to KWD 13.154 million during Q3-19 when compared to KWD 15.866 million in the …
Banking and Finance
Fitch has affirmed GBK’s financial Viability Rating (VR) at ‘bb+’
29 September 2019 01:08 PM Fitch Rating affirms GBK’s IDR at ‘A+’; outlook ‘Stable’
Mubasher: Fitch Rating affirms the long-term issuer default rating (IDR) of Gulf Bank of Kuwait (GBK) at ‘A+’ and the short-term IDR at ‘F1’, with a ‘Stable’ outlook. Additionally, the agency has affirmed GBK’s financial Viability Rating (VR) at …
Ratings
GBK's branch
28 August 2019 10:07 AM GBK’s stock falls to lowest level in 6M on Wednesday
Mubasher: The stock of the Gulf Bank of Kuwait (GBK) retreated by 0.68% or 2 fils to reach 294 fils, the lowest level in six months. By 10:30 am Kuwait time, the performance of the GBK’s stock was in contrast with the banking sector which gained …
Stock Evaluations
Around 490.16 million shares in the bank were sold
24 July 2019 02:46 PM GBK’s 16% capital sold at 312 fils/shr
By: Mohamed Farouk Mubasher: Boursa Kuwait announced selling 16.081% of the Gulf Bank of Kuwait’s (GBK) capital in favour of Al Ghanim Trading Co. at an initial price of 312 fils per share. Around 490.16 million shares in the bank were sold by …
Trading Activities
The rating has no financial impact
18 July 2019 09:56 PM CI affirms rating of Gulf Bank’s KWD 100m Tier 2 subordinated bond
Mubasher: Capital Intelligence Ratings (CI Ratings) affirmed the rating of KWD 100 million Basel III-compliant Tier 2 subordinated bond issued by Gulf Bank at 'BBB+', with a stable outlook. CI ascribed its decision to the bank’s well-established …
Banking and Finance
The bank logged KWD 23.98 million in profits in H1-19
10 July 2019 08:54 AM GBK Q2 profit slips 24%
Mubasher: Gulf Bank of Kuwait (GBK) on Wednesday posted it has generated a net profit of KWD 12.2 million ($40.2 million) during the second quarter of 2019, down 23.8% year-on-year from KWD 16 million ($52.7 million). In the first half of 2019, …
Banking and Finance
AUB Kuwait is forecast to have the lowest growth rate of 3.6% in profits
7 July 2019 11:13 AM Kuwait’s banks likely to see 10% rise in H1-19 profits – Analyst
By: Mohamed Farouk Mubasher: Ten Kuwaiti banks listed on Boursa Kuwait are expected to achieve an increase of 9.6% in profits during the first half of 2019, compared to the year earlier, capital market analyst Ahmed Jassim Al Qamr told Mubasher. …
Sector Reports
GBK’s capital amounts to KWD 304.81 million
12 May 2019 00:37 PM KIA eyes selling stake in GBK
Mubasher: The Gulf Bank of Kuwait (GBK) said that Kuwait Investment Authority (KIA), a state-run sovereign investor, seeks to sell its stake in the bank. KIA holds a direct stake of 16.081% in GBK, with around 490.157 million shares, according to …
Management Decisions
Risks facing the stock include geopolitical factors
2 May 2019 04:38 PM QNBFC research recommends buying of GBK’s stock
Mubasher: The research unit of the Qatar National Bank (QNB) on Thursday recommended the building of positions in Gulf Bank of Kuwait’s (GBK) stock, setting the target price at 345 fils per share. Since 17 December 2018, the stock grew 15%, which …
Trading Activities
Loans to customers totalled KWD 3.9 billion in Q1-19
29 April 2019 02:24 PM GBK records KWD 11.8m profit in Q1-19
Mubasher: The Gulf Bank of Kuwait (GBK) achieved an increase of 9% in net profits during the first quarter of 2019 compared to the same period in the previous year. Earnings totalled KWD 11.8 million ($38.8 million) in Q1-19, according to a press …
Financial Results
GBK plans to foster and modernise its IT infrastructure
19 March 2019 02:17 PM GBK, Dell Technologies ink digital transformation deal
Mubasher: The Gulf Bank of Kuwait (GBK) on Tuesday announced signing a partnership deal with Dell Technologies for a digitally transformative project. Under the new agreement, the Kuwaiti lender will tap the US firm’s leading storage management …
Companies Investments
GBK has a capital standing at KWD 304.81 million
14 March 2019 03:39 PM GBK’s board member sells KWD 9m equity in capital
Mubasher: The Gulf Bank of Kuwait (GBK) announced that a board member has sold 31.24 million shares of the bank’s capital during Wednesday. The board member Jassim Mustafa Jassim Boodaihas sold this equity for 291 fils per share at a total value …
Banking and Finance
GBK registered a rise in gross loans portfolio to KWD 4.2 billion in FY18
11 March 2019 01:33 PM GBK nods to 10% dividends for FY18
Mubasher: The Gulf Bank of Kuwait (GBK) announced that its ordinary general meeting (OGM) on Monday approved the board’s recommendation of distributing 10% of the share’s capital as cash dividends for fiscal year 2018. GBK will pay 10 fils per …
General Assembly
Gulf Bank office building in Kuwait
4 March 2019 01:09 PM GBK’s digitisation sees main help of Kodak Alaris business
Mubasher: The UK-headquartered Kodak Alaris business has played a leading role in the digital transformation journey of the Gulf Bank of Kuwait (GBK), according to a recent press release. GBK announced it has digitised 50 million documents by …
Banking and Finance
GBK profits rise to KWD 57 million in 2018
4 February 2019 03:19 PM GBK profits rise to KWD 57m in FY18; board proposes 10% dividends
Mubasher: The Gulf Bank of Kuwait (GBK) registered an increase of 18.2% year-on-year in profits during fiscal year 2018. Earnings grew to KWD 56.74 million ($187.5 million) in FY18 from KWD 48.02 million ($158.7 million) in FY17, according to a …
Cash Dividends
The second-biggest shareholder in the Kuwaiti lender made arrangements with related parties to buy a 9.2% stake
3 February 2019 01:24 PM Alghanim Trading to buy further $880m stake in Kuwait's Gulf Bank
Mubasher: Alghanim Trading Company on Sunday announced its agreement to more than double its stake in Gulf Bank of Kuwait (GBK) to around KWD 266.860 million ($880 million) holding. The second-biggest shareholder in the Kuwaiti lender made …
Management Decisions
The Central Bank of Kuwait approved a request for Alghanim Trading Group to raise its stake in the Gulf Bank of Kuwait.
30 January 2019 11:55 AM Alghanim gets Kuwait C. bank nod to raise stake in GBK
Mubasher: The Gulf Bank of Kuwait (GBK) announced that the Central Bank of Kuwait (CBK) has approved a request for Alghanim Trading Group to raise its stake in the bank. The CBK approved increasing Alghanim’s stake in the Kuwaiti lender to …
Corporate Actions
Four Kuwaiti banks ranked among the top 500 valuable lenders in terms of market capitalisation in 2019
23 January 2019 04:53 PM 4 Kuwaiti banks nab spots among world’s top valuable brands
Mubasher: Four Kuwaiti banks ranked among the top 500 valuable lenders in terms of market capitalisation in 2019, led by the National Bank of Kuwait (NBK), according to the Banker’s Brand Finance Global 500 2019 report. NBK’s global ranking fell …
Banking and Finance