Business
PRESSR: Gulf Bank holds its first quarter 2025 earnings webcast
PRESSR: Gulf Bank holds its first quarter 2025 earnings webcast
About this update from Gulf Bank K.s.c.
Waleed Khaled Mandani:Despite the headwinds, Gulf Bank’s underlying fundamentals remain strong, supported by a resilient balance sheet, sound risk management, and a clear strategic direction.As we progress through 2025, Gulf Bank remains focused on executing its strategic priorities with discipline and resilience.We have initiated the groundwork for the potential conversion to a Sharia-compliant institution, subject to obtaining relevant regulatory approvals.David Challinor:We managed to reduce operating costs by 2.1 million or 8% when compared to Q4 2024.We had loan growth in Q1 of 2.8% year to date or almost 160 million which was a strong start to the year.The credit costs for the corporate loan book is in excellent shape and we are very comfortable with its overall asset quality. Kuwait: Gulf Bank held its first quarter 2025 earnings webcast on Monday 5th May 2025, to present and discuss the Bank's financial performance. The webcast was organized by EFG Hermes and presented by Waleed Khaled Mandani, Acting Chief Executive Officer of Gulf Bank, and David Challinor, Chief Financial Officer of Gulf Bank. The discussion was moderated by Dalal AlDousari, Head of Investor Relations at Gulf Bank.Operating EnvironmentMr. Waleed Khaled Mandani, Acting Chief Executive Officer of Gulf Bank, commenced the webcast with key updates regarding Gulf Bank’s operating environment during first quarter 2025. Mandani stated: “Gulf Bank’s financial performance in the first quarter of 2025 reflects the ongoing challenges facing the financial sector. Despite the headwinds, Gulf Bank’s underlying fundamentals remain strong, supported by a resilient balance sheet, sound risk management, and a clear strategic direction”Mr. Mandani added “As we reflect on our performance in the first quarter of 2025, we remain focused on delivering long-term value, despite the pressures of the macroeconomic landscape. While our financial performance was impacted by sector-wide factors, we made meaningful progress on several strategic fronts that reinforce the Bank’s underlying strength and long-term direction.”He added: “As we progress through 2025, Gulf Bank remains focused on executing its strategic priorities with discipline and resilience. In line with our long-term vision for sustainable growth, we have initiated the groundwork for the potential conversion to a Sharia-compliant institution (s...