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GFH reduces net loss by 50 pct in H1 2010

Posted on 23 August 2010

From Cpifinancial.net: Gulf Finance House (GFH) has announced its financial results for the six months ending 30 June 2010 in which the bank made significant progress in executing upon its recovery plan.

Total income for the period was $25.9 million compared to $67.9 million for the first half of 2009 following a reduction in income from investment banking services. Net loss for the period was reduced by 50 per cent to $47.7 million compared to a net loss of $92.1 million for the first half of 2009. Expenses were reduced by 54 per cent to $73.6 million compared to total expenses of $160.1 million in the first half of 2009…………………………………….Full Article: Source

 
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