GFH announces a profit of USD 0.38 million for 2011

Gulf Finance House (GFH) presented its financial results for the year ending 31 December 2011, during which the bank returned to profitability despite a challenging year underscored by shortfalls in market liquidity and rising political tension throughout the region.
The reason for this return was the result of strong shareholder support, investor loyalty and a dedicated management team committed to seeing through the significant restructuring and recapitalization plan that was set in motion in 2010, and which has seen the Bank return to a net profit of US$381 thousand in 2011 as compared to a net loss of US$349 million in 2010.