Aug 01 2011 |
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Gulf International Bank 2Q Net Pft Up 24% At $36.6M Vs Yr Earlier
Monday, Aug 01, 2011
(This story was originally published Sunday.)
DUBAI (Zawya Dow Jones)--Bahrain-based Gulf International Bank said Sunday net income in the second quarter of the year rose 24% to $36.6 million, compared with a year ago, driven by a surge in fee-based income.
GIB 's first half net profit increased by 11% to $62.4 million compared with last year, the bank said in an emailed statement.
A net provision charge of $0.5 million was recorded for the period, it said.
GIB said it has no exposure to European government debt and has accordingly not been impacted by the recent turmoil in Eurozone debt markets.
-By Mirna Sleiman, Dow Jones Newswires; +9714 446-1698; mirna.sleiman@dowjones.com
Copyright (c) 2011 Dow Jones & Co.
(END) Dow Jones Newswires
01-08-11 0334GMT
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