NO. 21


Financial and Banking News

Regional Banking

Heavy LDC Losses Mask GIB's Weak Earnings

Two important question marks hang over the Bahrain-based Gulf InternationalBank (GIB) after its unprecedented decision last week to take a $725mn"special charge" against developing country loans, which resulted in a$692.5mn loss being declared for 1989. The answer to the first will becomeapparent within the coming weeks, and concerns the market's perception of GIB'srelatively...