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ZAWYA: Gulf Bank holds its First Quarter 2026 earnings webcast
ZAWYA: Gulf Bank holds its First Quarter 2026 earnings webcast
About this update from Gulf Bank K.s.c.
Mahfouz: The Bank continues to make measured progress on its Sharia-compliant conversion process in line with the regulatory frameworkKuwait continues to benefit from funding flexibility supported by domestic market depth and access to international capital marketsKuwait policy response has supported the stability of economic activity during an exceptionally challenging environment.We continued to advance our digital capabilities, enhancing the accessibility, security, and efficiency of our services.Challinor: Gulf Bank’s net loans and advances grew by nearly 6% in a single quarter, the strongest growth in several yearsTotal operating expenses grew only 1% year on year, which reflected our ongoing cost discipline.Corporate portfolio asset quality continues to demonstrate sustained strength and resilience.The retail growth in the system remains very slow and subdued, increasing by only 0.1% year to date as per CBK data.Kuwait City – Gulf Bank held its first quarter 2026 earnings webcast on Monday 4th May 2026, to present and discuss the Bank's financial performance. The webcast was organized by EFG Hermes and presented by Sami Mahfouz, Acting Chief Executive Officer of Gulf Bank, and Mr. David Challinor, Chief Financial Officer of Gulf Bank. The discussion was moderated by Ms. Dalal AlDousari, Deputy General Manager of Investor Relations at Gulf Bank.Operating EnvironmentMr. Sami Mahfouz, Acting Chief Executive Officer of Gulf Bank, commenced the webcast with key updates regarding the operating environment and Gulf Bank’s overall position during the first quarter of 2026. Mr. Mahfouz stated: “As we all know, we have been operating in an exceptionally challenging environment, as Kuwait and the whole region have been facing hostile security developments and heightened regional tensions since late February 2026. While these conditions have weighed on market sentiment and affected parts of the local and regional economic landscape, the State’s institutional strength, and the timely and adequate policy response, have supported the stability of economic activity.”Mr. Mahfouz added “During the first quarter of this year, key sovereign indicators remained robust as Kuwait’s credit ratings were reaffirmed by leading credit rating agencies, reflecting the country’s strong financial position and external resilience. Kuwait continues to benefit from funding flexibilit...