Gulf Bank’s General Assembly Delegates the Distribution of Semi-Annual Profits to the Board of Directors
- Reem Abdullah Alsaleh was elected as Gulf Bank’s first female Independent Board Member
The Ordinary General Assembly of Gulf Bank, which was held today (yesterday) with a 73% quorum, has agreed to delegate the distribution of semi-annual profits among the Bank’s shareholders to the Board of Directors, according to the Board’s decision during the financial year ending on December 13, 2022. The General Assembly also agreed to task the Board of Directors with the determination and amendment of the appropriate schedule for distribution, provided that the distribution is from actual profits, in accordance with generally accepted accounting principles, and does not affect the Bank’s paid-up capital.
On another note, the General Assembly elected Ms. Reem Abdullah Alsaleh as an Independent Board Member on the Bank’s Board of Directors, bringing the total number of independent members in the Board of Directors to four. Notably, Ms. Alsaleh is the first woman to become an Independent Board Member on Gulf Bank’s Board of Directors.
Gulf Bank’s vision is to be the leading Kuwaiti Bank of the Future. The Bank is constantly engaging and empowering its employees as part of an inclusive and diversified workplace in recognition of every employee’s role in delivering customer excellence and serving the community at large. With its extensive network of branches and innovative digital services, Gulf Bank is able to give its customers the choice of how and where to conduct their banking transactions, all while ensuring a simple and seamless banking experience.
Gulf Bank is committed to maintaining a robust sustainability program at the community, economic, and environmental levels through sustainability initiatives that are strategically selected to benefit both the country and the Bank. Gulf Bank supports Kuwait Vision 2035 “New Kuwait” and works with various parties to achieve it.