Gulf Bank announces that on 3/2/2016 it has participated in an auction and purchased 3 plots of land in the total amount of KD 8,69 M approximately, as part of the debt settlement with a customer. The loan had previously been fully impaired in the Bank's records. The financial implications can be known after the full settlement of the dues from the customer, and on disposing the land within the period specified by CBK as per the law No 32 of 1968 Concerning Currency, The Central Bank of Kuwait and the Organization of Banking Business.