VOL. XLIV

No. 16

16-April-2001

BANK RESULTS

GIC Reports Year 2000 Profits Of $111.7Mn, Results Of Strategic Review Pending

Following a meeting of its General Assembly, the GCC-owned Gulf Investment Corporation (GIC) announced on 8 April that it had achieved a net income of $111.7mn for the year 2000 a decline of 7.3% from the previous years $120.4mn but one that is qualified against the exceptional profit made in 1999 (see Table below). "Excluding an exceptional gain of $44.3mn arising in the...