arabtoday
Last Updated : GMT 08:19:49
Arab Today, arab today
Arab Today, arab today
Home » Banks

GIB posts net income of $97 mln for 9 months

Arab Today, arab today

Arab Today, arab today GIB posts net income of $97 mln for 9 months

Manama - Arabstoday

Gulf International Bank (GIB) has reported consolidated net income after tax of $97.0 million for the nine months ended Sept.30, 2012, being $12.4 million or 15 per cent up on the comparable prior year period. Net income after tax in the third quarter was $39.0 million compared to $22.2 million in the third quarter of 2011. Year-on-year increases were recorded in all income categories with the exception of a small decrease in other income. Net interest income at $108.8 million for the nine months was 3 per cent up on the prior year period. During the third quarter, loans and advances, the principal source of the Bank’s net interest earnings, increased by $411 million or 6 per cent. The growth in the loan portfolio reflected the leveraging of GIB’s expertise to serve the bank’s large and mid-cap customers. Fee and commission income at $40.7 million was $3.7 million or 10 per cent higher than in the prior year period. As a result, fee-based income comprised more than one fifth of total income, reflecting the successful implementation of GIB’s new strategic focus on non-asset based, relationship-orientated services and on supporting customers’ commercial and trade finance requirements. In particular, a 27 per cent year-on-year increase was recorded in commissions on letters of credit and guarantee. Foreign exchange income at $20.0 million was $11.6 million up on, or almost two and a half times, the prior year level. Foreign exchange income principally comprised profits generated on customer-initiated foreign exchange contracts. The substantial year-on-year increase reflected a focus on the cross selling of treasury products to clients and the introduction of new products and services to meet client needs. Trading income at $11.4 million for the nine months was $5.2 million or 84 per cent up on the prior year period. This was attributable to profits on investments in emerging market debt. Other income of $12.5 million was marginally below the prior year. Other income principally comprised dividends on equity investments, profits realised on the sale of investment securities, and recoveries of impaired loans. From Gulf Today

Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

Arab Today, arab today gib posts net income of 97 mln for 9 months Arab Today, arab today gib posts net income of 97 mln for 9 months

 



Arab Today, arab today
Arab Today, arab today Adidas Originals ‘reinterpreted’

GMT 14:52 2016 Thursday ,01 December

Adidas Originals ‘reinterpreted’
Arab Today, arab today Holiday magic is everywhere

GMT 13:04 2016 Saturday ,03 December

Holiday magic is everywhere
Arab Today, arab today Paris's matchbox apartments

GMT 10:37 2016 Saturday ,24 September

Paris's matchbox apartments
Arab Today, arab today As nearly 20,000 children flee Aleppo

GMT 07:50 2016 Saturday ,03 December

As nearly 20,000 children flee Aleppo
Arab Today, arab today What next after landmark

GMT 09:01 2016 Saturday ,03 December

What next after landmark

GMT 10:20 2016 Saturday ,03 December

EU banks at risk from bad loans, low profit

GMT 02:13 2016 Friday ,02 December

CBE announces start of currency swap mechanism

GMT 22:21 2016 Wednesday ,30 November

Dollar exchange rate stable at key 4 banks

GMT 17:09 2016 Wednesday ,30 November

GIB launches new corporate identity

GMT 16:18 2016 Wednesday ,30 November

Dhaka to open bank for Bangladeshi expats
View News in Arabic - Business: مصارف
Arab Today, arab today
Arab Today, arab today
Arab Today, arab today Dino-killing crater shows clues

GMT 14:43 2016 Thursday ,24 November

Dino-killing crater shows clues
Arab Today, arab today For Yazidi women left behind

GMT 08:00 2016 Saturday ,03 December

For Yazidi women left behind
Arab Today, arab today Green groups pressure Spain

GMT 13:01 2016 Thursday ,01 December

Green groups pressure Spain
Arab Today, arab today Pluto's unruly moons

GMT 06:31 2015 Thursday ,04 June

Pluto's unruly moons
Arab Today, arab today Hyundai allows Saudi journalists

GMT 15:14 2016 Thursday ,01 December

Hyundai allows Saudi journalists
Arab Today, arab today Latest Infiniti QX to compete

GMT 13:16 2016 Saturday ,26 November

Latest Infiniti QX to compete
Arab Today, arab today Austria's race against time

GMT 11:44 2016 Thursday ,01 December

Austria's race against time
Arab Today, arab today Car manufacturers to power Europe

GMT 13:01 2016 Tuesday ,29 November

Car manufacturers to power Europe

GMT 12:45 2016 Tuesday ,29 November

To find German funny bone

GMT 13:52 2016 Monday ,28 November

Punk memorabilia torched

GMT 04:15 2016 Thursday ,30 June

World's largest uncut diamond fails

GMT 12:39 2016 Friday ,25 November

Arctic 9-12C above normal

GMT 15:59 2015 Wednesday ,27 May

Seoul elevates gardening to high art

GMT 12:39 2016 Saturday ,26 November

Skin patch could help kids

GMT 13:19 2016 Monday ,21 November

New nationalism stoking fears

GMT 13:12 2015 Saturday ,09 May

Sheikh Sultan opens Sharjah Centre

GMT 09:53 2016 Sunday ,15 May

OMEGA official timekeepers
Arab Today, arab today
Arab Today, arab today
 
 Arab Today Facebook,arab today facebook  Arab Today Twitter,arab today twitter Arab Today Rss,arab today rss  Arab Today Youtube,arab today youtube  Arab Today Youtube,arab today youtube

Powered and Developed by FilmMatters

Copyright © 2016 Arabtoday

Developed by FilmMatters

© 2016 Arabtoday

arabtoday arabtoday arabtoday
arabtoday
بناية النخيل - رأس النبع _ خلف السفارة الفرنسية _بيروت - لبنان
arabtoday, Arabtoday, Arabtoday