Financial and Banking News
GIB's Profitability Improves in First Half
Gulf International Bank's (GIB's) net profit fell to $20mn during the firsthalf of 1991, reflecting the reduced size of the bank's balance sheet, butprofitability improved slightly. Return on assets was 0.34%, compared to 0.33%for the first six months of 1990. Total income represented 0.68% of assets,compared to 0.58%. Operating expenses have been cut by 24%. The balance sheetcontinued...