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...
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