Financial and Banking News
GIB Half-Year Profits up
The Manama-based Gulf International Bank (GIB) has announced mid-year profits of $35.9mn, up 8% over the equivalent period in 1985. Total assets increased 6.7% to $7,542mn and shareholders equity stood at $750mn, up from $612mn last year. Operating income increased by 9.2% to $59.2mn, while operating expenses were up 13.8% to $23.1mn.