Offering value-added, differentiated products and services across the Bank’s business lines.
In Q2 2025, net profit attributable to shareholders soared to $44.2 million, marking an 8% increase from $41 million during the same period last year. This strong performance was strategically powered by diversifying income sources and reducing reliance on net interest income, achieved through offering value-added, differentiated products and services across the Bank’s business lines. The Bank recorded a notable rise in non-interest income, reaching $58.7 million compared to $34.3 million, reflecting a healthy increase of 71%. Operating expenses were managed at $113.2 million, showing a slight rise of 4%. Provisions for the quarter amounted to $18.6 million, up from $1.2 million in Q2 2024, with remarkable revenue growth, containment of expenses, and prudent provisioning all together contributing to the rise in consolidated profit of $52.6 million for the Group, up 10% from $48 million in the same period last year.
Basic and diluted earnings per share for shareholders rose to $2.21 cents, compared to $2.05 cents per share in the same period last year. Total comprehensive income attributable to shareholders increased by 3% to $40.4 million, up from $39.3 million in the previous year.
In the first half of 2025, net profit attributable to shareholders of the Bank grew by 4% to $92.2 millioncompared to $88.5 million in the prior year. Net income for the first half reached $112.6 million, a 6% increase from$106.3 million in the previous period.
Non-interest income for the first half reached $112.2 million compared to $90.3 million, reflecting an increase of 24%. This growth was driven mainly by foreign exchange income, net trading income and asset recoveries from previously written-off customers. This performance highlights the Bank’s progress in executing its strategy to diversify income sources and enhance cross-selling activities.
The Bank maintained operational efficiency, with a controlled rise in operating expenses of 5% to $222 million, representing measured growth while focusing on strategic initiatives.
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.