VOL. XLVI

No 30

28-July-2003

BANK RESULTS

GIB Posts $61.5Mn Profits For First Half 2003

Gulf International Bank (GIB) has announced consolidated net income after tax of $61.5mn for the first half of 2003, down from $70.5mn in the first half of 2002. Net interest income stood at $86.6mn, down 15.3% from $102.3mn in 2002 as low interest rates brought about reduced earnings on the banks net free capital, said GIB. Improved margin income from both the core banking activity and the securities portfolio...