Financial and Banking News
GIB Profits and Assets Edge up 5%
Conservative growth at Gulf International Bank (GIB) edged up its net income by 4.9% to $67mn and its total assets by 4.9% to $7.8bn at the end of 1985, according to a bank statement last week. $36.7mn (55%) of the net income was retained and added to the bank's reserves. The growth in net income was attributable to a 4t increase in net interest and fee income to $96.2mn and to a 20% increase in other...