Gulf International Bank (GIB) has reported strong financial results for the first half of 2025, with net profit attributable to shareholders rising by 4% to $92.2 million compared to $88.5 million in the prior year. The bank’s net income for the period reached $112.6 million, a 6% increase from $106.3 million during the same period last year.
For the second quarter of 2025, GIB recorded a net profit attributable to shareholders of $44.2 million, up 8% from $41 million in Q2 2024. This growth was supported by efforts to diversify income sources and reduce reliance on net interest income through offering differentiated products and services across its business lines.
Non-interest income saw significant growth, reaching $58.7 million in Q2 compared to $34.3 million a year earlier—an increase of 71%. For the first half of the year, non-interest income totaled $112.2 million versus $90.3 million in the previous period, reflecting an increase of 24%. According to GIB, this performance was driven mainly by foreign exchange income, net trading income and asset recoveries from previously written-off customers.
Operating expenses for Q2 were managed at $113.2 million, representing a modest rise of 4%. Provisions for the quarter amounted to $18.6 million, higher than last year’s figure of $1.2 million for Q2 2024.
Consolidated profit for the group stood at $52.6 million for Q2—a 10% increase from last year’s figure of $48 million.
Basic and diluted earnings per share rose to $2.21 cents in Q2 compared to $2.05 cents per share a year ago; for the first half they reached $4.61 cents versus last year’s result of $4.43 cents per share.
Total comprehensive income attributable to shareholders increased by 3% in Q2 and by 6% over the first half when compared with previous periods.
The bank’s total consolidated assets at mid-year were reported at $49.2 billion—a rise of about 15% since December 2024—driven primarily by an increase in transitory client deposits linked to cash management and payment services in the UK that are held with central banks, other banks and short-term securities (https://www.gib.com/en/about-gib). Cash and liquid assets accounted for approximately 43% of total assets as opposed to 40% at end-December last year.
Investment securities totaled about $9.5 billion and consisted mainly of highly rated debt securities issued by major financial institutions or regional government-related entities (https://www.gib.com/en/investor-relations/financial-information). Loans and advances rose by about 5%, aligning with GIB’s strategy around origination, underwriting and distribution activities.
Customer deposits reached nearly $33.8 billion during this period—demonstrating continued confidence among clients—and key liquidity ratios remained well above regulatory requirements: liquidity coverage ratio stood at 131%, net stable funding ratio at almost 139%, while Basel III total capital adequacy ratio was just under 15%.
“The Bank recorded a notable rise in non-interest income… reflecting a healthy increase,” stated GIB officials regarding quarterly performance.
“This growth was driven mainly by foreign exchange income, net trading income and asset recoveries from previously written-off customers,” according to GIB’s report on its strategic progress during H1-2025.
The bank’s financial statements have been reviewed by external auditors KPMG -Fakhro and comply with International Accounting Standard (IAS) 34 – Interim Financial Reporting.
Founded in Bahrain in 1975, Gulf International Bank operates throughout GCC countries as well as internationally via subsidiaries including GIB Saudi Arabia and GIB (UK) Ltd., along with branches or offices located in London, New York, Abu Dhabi, Oman and Dubai (https://www.gib.com/en/about-gib/our-network).
Ownership is primarily held by sovereign wealth funds or governments within GCC nations; Saudi Arabia’s Public Investment Fund serves as its main shareholder.
