VOL. XLI

No. 08

23-February-1998

BAHRAIN

GIB Post-Provision Earnings Fall On Exposure To South East Asia

Bahrain-based Gulf International Bank (GIB) said on 18 February that its profits afterprovisions for 1997 were $86.4mn, compared to $94.5mn (also after a small overseas taxcharge) the previous year. In a statement, GIB put the blame squarely on its exposure tosoutheast Asia, which necessitated a higher provisioning charge of $30mn, compared to$10mn in 1996. Operating profits before...