Gulf Int’l Bank posts $50.2m first-half profit

Gulf International Bank reported a consolidated net income after tax of $50.2 million for the six months ended June 30, 2014, compared to $60.6 million in the prior-year period. Net income after tax in the second quarter was $21.1 million.
Total income at $134.4 million was $4.8 million or four per cent up on the prior year with year-on-year increases recorded in all income categories with the exception of foreign exchange income and trading income. Net interest income at $76.6 million for the six months was $0.4 million up on the prior-year period.

Compiled from staff reports