By: Mahmoud Gamal
Mubasher: Gulf Bank of Kuwait’s (GBK) stock fell by 1.82% despite the good financial results reported in the fourth quarter of 2016.
The stock fell to 270 fils by 12pm Kuwait time, after 2.23 million shares were traded with a value of about KWD 61, 590.
The bank’s financial statements of the fourth quarter in 2016 increased by 8% when compared to 2015.
GBK’s quarterly financial statements came lower than expectations; however, the fiscal year’s financial results were good in line with the economic slowdown the banks sector is facing, capital market analyst Fayez Al-Otaibi said.
