Middle East Economic Survey
VOL. XLVIII
No 8
21-February-2005
BAHRAIN
GIB Profits Reach $150Mn In 2004
Bahrain-based Gulf International Bank (GIB) announced on 13 February it had achieved its best results ever with net profits reaching $150.2mn in 2004, a 42% increase over 2003. This strong performance resulted from increases in interest earnings (due to higher loan volumes and margins), non-interest earnings (benefiting from strong fee-based income derived from merchant banking activities such as...
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