Gulf Finance House announces its 3rd quarter financial restults
Gulf Finance House revealed its third quarter financial results for 2011.
The Bank recorded a net profit of US$ 4.1million for the first nine months of 2011, as compared to a net loss of US$ 162.2 million for the same period in 2010.
During the first nine months of the year, GFH raised its earnings by 279 per cent to US$50.02 million, compared to US$ 13.1 million during the same period last year. The reason fot this increase was mainly attributable to income from asset sales and settlement of liabilities.
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