VOL. XXXVI
NO. 18
1-FEBRUARY-1993
Financial and Banking News
BANK RESULTS
GIB Reports 37% Increase in Profits
Bahrain-based Gulf International Bank (GIB) announced on 26 January that ithad a net profit of $63.7mn, a 37% increase over 1991. Total assets rose to$6,340mn, up 8.2%, on 1991. Full figures will be released following the bank'sgeneral assembly, scheduled for 20 February. GIB is owned by the Gulf InvestmentCorporation, which is in turn owned by the six member states of the GCC.
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