Financial and Banking News
GB Posts Weak Recovery
The Bahrain-based Gulf International Bank (GIB) last week released itsresults for 1988 which showed a relatively weak recovery from the heavy lossescaused by loan loss provisioning during 1987. GIB declared a profit of $45.6mn,equivalent to a return on average assets (RoA) of only 0.55%, compared with RoAsof 0.85-0.95% during the five years prior to 1987. The bank showed a profit in1988 because it...