VOL. XLII

No. 18

3-May-1999

BAHRAIN

GIB/SIB Merger Completed

Gulf International Bank (GIB) announced on 27 April that themerger with Saudi International Bank (SIB) had been legally completed.According to a statement by the bank, the merger was finalized following theissue of a Bahraini Amiri Decree to amend GIB痴 constitution and an increase inthe bank痴 paid up capital to $1bn. The shareholder structure of the bank isnow as follows: Gulf Investment Corporation (GIC) 72.5%; Saudi Arabian Monetary...