Financial and Banking News
GIB Reports Higher Profits and Appoints New General Manager
The Bahrain-based Gulf International Bank (GIB) has reported half-year results for 1985 which show a 5% increase in net income to $33.3mn. The loan portfolio shrank by 2.3% to $3.88bn, but a $92.9mn (27.4%) increase in share capital to $432.4mn helped to push up total assets by 2.1% to $7.07bn, which is still lower than the end-1984 asset total of $7.4bn. GIB has also announced...