GIB reports strong first half financial results, demonstrating continued strategic progress and financial strength
Basic and diluted earnings per share attributable to shareholders reached $4.61 cents, compared to $4.43 cents per share in the prior period.
Total comprehensive income attributable to shareholders stood at $89.8 million, up 6% from $84.5 million in the previous year.Total shareholders' equity, excluding minority interest, rose by 4% to $2.6 billion from $2.5 billion in December 2024, including reserves and retained earnings of $565.3 million, which account for 28% of capital.Total consolidated assets at the end of the first half stood at $49.2 billion, compared to $42.9 billion, reflecting a 15% increase since December 2024. This growth was driven by a rise in transitory client deposits linked to the Group's cash management and payment services in the UK, which are held with central banks, other banks, and short-term securities. Cash and liquid assets, including short-term placements, reached $21.3 billion, representing 43% of total assets, compared to 40% in December 2024. Investment securities amounting to $9.5 billion were primarily composed of highly rated and liquid debt securities issued by major financial institutions and regional government-related entities. Loans and advances rose by 5% to $16.1 billion, aligning with the Bank's strategy to originate, underwrite, and distribute.GIB continued to leverage its strong funding profile in the first half of 2025, with customer deposits reaching $33.8 billion. The Bank's solid funding position reflects the confidence of its customers and counterparties, bolstered by its strong ownership and financial stability. The liquidity coverage ratio of 131.1%, net stable funding ratio of 138.7%, and Basel 3 total capital adequacy ratio of 14.8% are all well above the regulatory requirements.The financial statements for the first half of 2025 were reviewed by the external auditors KPMG -Fakhro and comply with International Accounting Standard (IAS) 34 - Interim Financial Reporting.Gulf International Bank B.S.C. is a pan GCC universal bank established in 1975 and regulated by the Central Bank of Bahrain. GIB's services are delivered across the GCC and international markets through its subsidiaries: GIB Saudi Arabia, GIB (UK) Ltd. Additionally, the Bank has branches in London, New York, Abu Dhabi and Oman in addition to a representative office in Dubai.
GIB is owned by the sovereign wealth funds/governments of the Gulf Cooperation Council countries (GCC), with Saudi Arabia's Public Investment Fund (PIF) being the primary shareholder.
© 2000 - 2025 Al Bawaba (www.albawaba.com)
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