NO. 30


Financial and Banking News

Bank Results

GIB Reports 38% Profits Rise; Looks To Further Rise In 1994

Profits at Bahrain-based Gulf International Bank (GIB) rose by 38% to $88.2mnin 1993, mainly as a result of a large increase in non-interest income. The bankis proposing to distribute $45mn as a cash dividend, equivalent to 10% ofpaid-in capital, the same as last year. General Manager Ghazi 'Abd al-Jawadexpects that GIB will continue to increase its profits during the...