VOL. XXXIV
NO. 43
29-JULY-1991
Financial and Banking News
Bank Results
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...
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