ICEC

Gulf International Bank registers 4% net income rise

Bahrain-based Gulf International Bank (GIB) has posted a 4% rise in consolidated net income after tax to $104.5m for the year ended December 31, 2011, compared with the previous year.

Net income after tax during the fourth quarter of 2011 surged to $19.9m from $14.3m the previous year, the bank said. Net interest income, which at $143.8m represented the GIB’s principal income source, was 8% down on 2010, GIB added.

Source: ameinfo

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