Kuwait's Gulf Bank 2013 net profit rises 4 pct

KUWAIT Tue Jan 28, 2014 6:10am EST

KUWAIT Jan 28 (Reuters) - Kuwait's Gulf Bank reported a 4 percent rise in 2013 net profit on Tuesday and said it would pay a dividend of 5 percent through an issue of bonus shares.

Kuwait's fourth-largest lender by assets said full-year net profit was 32.16 million dinars ($113.94 million), compared with 30.89 million dinars in the same period a year ago.

It gave no quarterly figures and did not give details on who would succeed Chief Executive Michel Accad, announced in October that he was resigning for personal reasons. ($1 = 0.2823 Kuwaiti dinars) (Reporting by Sylvia Westall; Editing by Dinesh Nair)

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