Saudi Gazette - GFH posts $4.2m net in first half:
"GULF Finance House (GFH), the Bahrain-based Islamic investment bank, reported a net profit of $4.2 million in the first half of 2013 compared to $5.7 million in the corresponding half-year period in 2012. Net profit for the second quarter $2.7 million compared to $4.7 million for the second quarter of 2012.
Total income for the second quarter was $13.4 million compared to a total income of $19.7 million for the second quarter of 2012. Income was primarily generated from management fees from funds under management, investment income and recoveries. Operating costs for the half year period reduced by 27 percent to $19.6 million compared to $26.9 million for the prior year period, underlining ongoing efforts in the streamlining of operations and achieving greater efficiencies across the business. "
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