Investment banking drives IIB first-half profits

DUBAI — International Investment Bank (IIB) has announced an increase in its net income for the first half of 2007, reflecting the continued growth of IIB's business and its ability to effectively develop and offer a diverse range of compelling investment opportunities.

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Published: Mon 30 Jul 2007, 9:03 AM

Last updated: Sat 4 Apr 2015, 10:23 PM

The net income of $9.6 million for the first six months of 2007 compares favourably with $5.4 million for the same period last year. Total income increased by 120.4 per cent to $18.7 million in the first half of 2007, mainly from investment banking fees that increased by $8.5 million or 114.5 per cent to $15.9 million, generated from the structuring, underwriting and placement of new investments. In addition, the bank registered a gain on sale of investment property in the Seef district of Bahrain of $1.4 million.



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