Bahrain’s GIB Net Income Rises 23%

Bahrain-based lender, Gulf International Bank (GIB) has said its consolidated net profit after tax rose 23% year-on-year to $31.8m for the three months ended March 31, 2012.

Net interest income also increased by $600,000 on the prior year period to $31.9m for the three months. Total expenses climbed 11% to $30.1m for the quarter, compared with the same quarter a year earlier, ameinfo reported.