NO. 42


Financial and Banking News

Bank Results

GIB Profits Slip Due To Bond Losses

Gulf International Bank (GIB) has reported net profits of $37.7mn for thefirst half of 1994, a 3% fall on the first half of 1993. The fall was due to asharp reduction in "other income" to $14.4mn from $32.5mn. This wasthe result of the turbulence in the bond markets at the beginning of the year.The difference was made all the greater because the bond market was performingso well during the...