Kuwait's Gulf Bank posted a 2.4 per cent rise in net profit in the third quarter, Reuters calculations showed on Thursday.

Net profit in the three months to the end of September was KD9.86 million ($35 million) compared to KD9.63 million in the same period a year ago, a Reuters calculation based on nine-month figures showed.

Kuwait's fourth-largest lender by market value, Gulf Bank, has yet to name a new chief executive after Michel Accad resigned earlier this month for personal reasons. He will continue in his position until early next year.-Reuters