VOL. XXXIX

No. 37

10-June-1996

BAHRAIN

Trading Securities Boost GIC Profits

Gains on trading securities have allowed Gulf Investment Corporation (GIC) to recover from the poor performance of 1994 and to announce a near-doubling of profits for 1995 to $116mn. The result means that the group, which is owned by the six governments of the Gulf Cooperation Council (GCC), has almost returned to the record levels of profitability seen in 1993. Bahrain-based Gulf International Bank, which was taken...