Company Profile For Gulf Bank K.S.C.

Gulf Bank KSC is a Kuwait-based financial institution engaged in the provision of financial and investment services through a network of 47 branches across Kuwait. The Bank is structured into three business units: Personal, Small Business and Corporate & International. Its Personal segment offers salary packages, current accounts, youth accounts, priority banking and children account through its Banking Packages sub-division; savings accounts, time deposits and investments through Savings & Investment sub-division; installment, consumer and secured loans through its Loans sub-division, and a range of card services through its Credit Cards sub-division. The Small Business segment offers current and savings accounts, and time deposits through Business Accounts sub-division, and cash and non-cash facilities through its Credit Facilities sub-division. The Corporate & Institutional unit offers credit facilities, corporate advisory and treasury services.

BRIEF: For the nine months ended 30 September 2009, Gulf Bank's interest income decreased 34% to KWD166.1M. Interest loss after loan loss provision totaled KWD31.1M, vs. a profit of KWD82M. Net loss totaled KWD7M vs. a profit of KWD86M. Interest income reflects a decrease in income from loans with a significant decrease in the domestic banking sector. Net loss suffered from an increase in staff costs as well as other costs.