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GIB records $121.5 million full-year profit

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Gulf International Bank, or GIB, recently recorded a consolidated net income after tax of $121.5 million, $3.6 million or three per cent up on the prior year.

Published: Wed 19 Feb 2014, 11:19 AM

Updated: Fri 3 Apr 2015, 5:08 PM

The year-on-year growth in net income was achieved despite a significant increase in expenses relating to the on-going implementation of GIB’s new business strategy. Net income after tax in the fourth quarter was $20 million compared to $20.9 million in the fourth quarter of 2012.

Year-on-year increases were recorded in all income categories, with the exception of foreign exchange and trading income.



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