Bahrain's troubled Gulf Finance House GFHB.BH (GFHK.KW) halved its losses in 2010 and said it had raised $100 million in fresh capital, the investment firm said on Thursday.
GFH is one of the Bahraini investment firms badly hit by a 2008 regional property crunch that ended its business model of raising finance for private equity and real estate projects.
It said in a statement its full-year net loss was $349 million, compared with $728 million in 2009 when it wrote down part of its real estate portfolio.
No comments:
Post a Comment