No. 31



GIB Produces Record Profits In 1995

After a sharp fall in profits in 1994, Gulf International Bank (GIB) has slightly exceeded its levels of earnings in 1993 by announcing 20% increase in profits for 1995 to $89.8mn. This means that the bank can demonstrate five years of solid earnings growth and that the memory of the loss of some $422mn in 1990 as a result of the Iraqi invasion of Kuwait and the subsequent recapitalization can be exorcized....