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...