VOL XXXI
NO. 20
22-FEBRUARY-1988
Financial and Banking News
REGIONAL BANKING
GIB Takes $179mn Loss to Cover Third World Debt
The Bahrain-based Gulf International Bank (GIB), which is owned jointly bythe member states of the Gulf Cooperation Council together with Iraq, last weekdeclared its first ever loss in order to make provisions for possible losses onits loan portfolio attributed to the Third World. GIB's action mirrors that ofits rival, Arab Banking Corporation (ABC), which earlier this month...
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