KUWAIT: Gulf Investment Corporation (GIC) has reported a net income of US$182 million for the financial year ended the 31st December 2011, a 20% increase from 2010.
Net operating revenue advanced 31% to US$292 million, while total shareholders’ equity reached US$2.41 billion, in comparison to US$273 million the year earlier.
The bank’s total balance sheet as at the 31st December 2011 amounted to US$5.89 billion.