ANALYSIS - GFH woes offer glimpse into Bahrain offshore banks

* username: rupertbu

Debt woes at Gulf Finance House (GFH) offer a rare insight into the fragile state of Bahrain's offshore investment houses and give a hint that damage is mounting across the sector.

GFH, hit hard by a property market crash in the Gulf region, escaped default on Wednesday when lenders agreed to postpone repayment of a third of a $300 million loan.

But analysts say the group is not yet off the hook as it needs to raise cash through asset sales or receive some outside assistance if it is to avoid further funding difficulties.