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GIB, $500m capital boost
- Bahrain: Monday, March 12 - 2007 at 15:59
Bahrain's Gulf International Bank has increased its paid up capital by $500m to $1.5bn, representing 50% of the bank's authorised capital of $3bn. Following the increase in capital and the payment of a 50% dividend in respect of 2006 profits, GIB's total equity will increase to in excess of $ 2.2bn. The capital increase is designed to aid the bank's regional expansion and boost its credit rating.
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Jonathan Sheikh-Miller, Deputy EditorMonday, March 12 - 2007 at 15:59 UAE local time (GMT+4)
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This article was updated on Sat Apr 07 2007.
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