Arab Today, arab today gulf finance house net profits for 2012 surge to 1003mn
Last Updated : GMT 09:42:59
Arab Today, arab today
Arab Today, arab today

Gulf Finance House net profits for 2012 surge to $10.03mn

Arab Today, arab today

Arab Today, arab today Gulf Finance House net profits for 2012 surge to $10.03mn

Manama - BNA

The Gulf Finance House (GFH) announced its financial results for the fiscal year 2012. The bank posted a net profit of $10.03 million compared to $0.38 million in 2011. The bank’s profitability in 2012 was the result of strong shareholder support, investor loyalty and a dedicated management team committed to seeing through the significant restructuring and income from profitable investments. Operating profit before provisions were $20.43 million when compared to $ 8.5 million in 2011 an increase of 140%. Additionally, the bank posted reduced operating costs from $62.87 million to $43.15 million, a 31% reduction when compared to the same period last year, which was mainly attributable to continued efforts to maintain streamlined operations and reduced facilities. During the fourth quarter of 2012 GFH had a net profit before provision of $12.9 million with net profit after provision of $ 2.5 when compared to a net loss of $4 million in 2011. This is accredited to the income generated from the Leeds F.C. investment and other investment companies. Expressing his satisfaction with the results for 2012, Esam Janahi, Chairman of GFH commented: “These results are a testimony to the determination of the board and executive management to turning around the bank’s activities positively following the financial crisis. Despite the slowdown in the international, regional and local economies, at GFH we have met the challenges and have continued to maintain its growth momentum and remain profitable”. “We are committed to providing long term benefits for our shareholders, our investors and our employees and appreciate the commitment, dedication and support extended towards the growth activities of the Bank. I would like to express my gratitude to the executive management team’s efforts in restructuring the banks liabilities and continuously pursuing opportunities which resulted in accelerated development and progress of the Bank,” he concluded.

arabstoday
arabstoday

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 gulf finance house net profits for 2012 surge to 1003mn Arab Today, arab today gulf finance house net profits for 2012 surge to 1003mn

 



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 gulf finance house net profits for 2012 surge to 1003mn Arab Today, arab today gulf finance house net profits for 2012 surge to 1003mn

 



Arab Today, arab today
Arab Today, arab today Youssra depended on colored foam

GMT 16:53 2017 Tuesday ,05 September

Youssra depended on colored foam
Arab Today, arab today Taxi! Transport gets an overhaul

GMT 12:09 2017 Sunday ,24 September

Taxi! Transport gets an overhaul
Arab Today, arab today Etiquette expert underlines importance of gifts

GMT 17:52 2017 Sunday ,03 September

Etiquette expert underlines importance of gifts
Arab Today, arab today Turkey warns of 'security' steps

GMT 12:17 2017 Sunday ,24 September

Turkey warns of 'security' steps
Arab Today, arab today North Korea 'more opaque'

GMT 10:50 2017 Sunday ,24 September

North Korea 'more opaque'
Arab Today, arab today
Arab Today, arab today
Arab Today, arab today Ministry seeks to improve education

GMT 14:49 2017 Sunday ,17 September

Ministry seeks to improve education
Arab Today, arab today 'Lady Beast' fights for girl gamers

GMT 10:27 2017 Sunday ,24 September

'Lady Beast' fights for girl gamers
Arab Today, arab today Conditions growing dire    

GMT 09:22 2017 Monday ,25 September

Conditions growing dire    
Arab Today, arab today The history of solar eclipses

GMT 05:16 2017 Sunday ,20 August

The history of solar eclipses
Arab Today, arab today Third generation adds more power

GMT 13:40 2017 Sunday ,24 September

Third generation adds more power
Arab Today, arab today Carmakers face billions in European

GMT 12:37 2017 Saturday ,23 September

Carmakers face billions in European
Arab Today, arab today Lebleba is preoccupied in filming 'Back Street'

GMT 08:56 2017 Thursday ,21 September

Lebleba is preoccupied in filming 'Back Street'
Arab Today, arab today Psychologists help Mexico deal

GMT 05:05 2017 Sunday ,24 September

Psychologists help Mexico deal

GMT 08:59 2017 Wednesday ,20 September

Youssra prepares for launching her program

GMT 10:16 2017 Friday ,22 September

All eyes on May as she prepares

GMT 16:53 2017 Saturday ,02 September

Mai importance of gifts during Eid Al-Adha

GMT 20:10 2017 Saturday ,23 September

Big Western brands polluting oceans

GMT 10:46 2017 Saturday ,05 August

Nanis reveals simple ideas for home renovation

GMT 18:11 2017 Saturday ,23 September

Doctor provides advices to families

GMT 13:36 2017 Saturday ,23 September

unveils Joon - the 'millenials' airline

GMT 17:12 2017 Monday ,07 August

Al-Shawaifi reveals secrets of total solar eclipse

GMT 12:46 2017 Thursday ,21 September

Google likely to buy stake in Taiwan smartphone maker HTC

GMT 11:37 2017 Saturday ,12 August

Fashion designer reveals her new collection
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
arabstoday arabstoday arabstoday arabstoday
arabstoday arabstoday arabstoday
arabstoday
بناية النخيل - رأس النبع _ خلف السفارة الفرنسية _بيروت - لبنان
arabstoday, Arabstoday, Arabstoday