Monday 23, March 2009 by
Assets down by almost a fifth at Gulf International Bank
At $25 billion, Gulf International Bank’s (GIB) assets were down $4.9 billion. The fall was largely due to the hit the bank took in the first quarter of 2008 in proprietary trading positions. Loans and advances at year end 2008 were at much the same level as at the end of 2007 reflecting a more cautious approach to the extension of credit in the prevailing economic environment.
