Kuwait's Gulf Bank posted a 13.8 per cent fall in third-quarter net profit as only one credit client and its investment portfolio weighed.

Net income in the three months to September 30 came was KD29.925 million ($111.4 million) after KD34.715 million in the same period in 2007, the bank said in a statement on the bourse website.

Global Investment House had forecast Gulf Bank's third-quarter net profit at KD36.20 million.-Reuters