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GBCORP announces first quarter results
Bank reported a net profit of US$ 1.785 million during the first quarter 2013


Manama, Bahrain, May 2013: Global Banking Corporation GBCORP, the Shari’a compliant investment bank, today announced that the Bank has posted a net profit of US$ 1.785 million  for the quarter  ended 31st March 2013 as compared to net loss of US$ 2.734 for the same period in 2012.

The positive results are due to bank's ongoing efforts to rationalize its operating cost and increase in income from investment securities.

Dr. Zakria Hejres, Chief Executive Officer of GBCORP said: “We are delighted to have reported profits in the first quarter of 2013. These numbers reflect the bank’s strategy of streamlining its operations in light of the challenging time faced by the industry. At GBCORP, we are focusing on further exits for the investors and strengthening the underlying performance of the bank. The bank aims to continue the current efforts and look forward to announcing further progress.” added Dr. Hejres.