Middle East Economic Survey
GIC Announces Profit Of $135Mn For 2004
The Gulf Investment Corporation (GIC) has announced a profit of $135.4mn in 2004, an increase of $19.7mn over 2003. This profit represents a return of 12.3% on shareholders equity and 18% on paid up capital. Total assets at year-end increased by $561mn to $7.3bn and the GIC board has proposed a distribution of dividends for 2004. GIC, one of the largest regional financial institutions in...