Financial and Banking News
GIB Profits Increase, Assets Unchanged
The total assets of the Gulf International Bank (GIB) slipped marginally to $7,419.4mn in 1984, while net income increased 11.1% to $63.9mn. The higher profits were broadly in line with GIB's mid-year figures, which indicated a 12.6% increase to $31.7mn. A $103mn (22%) increase in shareholders' equity from $477.1mn to $580.1mn was the result of a $92.8mn increase in capital as well as retained...