Gulf Finance House Q2 net loss of $11.23m

Bahrain's Gulf Finance House posted a net loss of $11.23 million in the second quarter, narrower than the $40.2 million loss the company posted in the comparable period one year ago, it said in a statement on Tuesday.

The cash-strapped Islamic investment house reported a net profit of $700,000 for the first half of the year with total income of $32.8 million.

GFH's chief investment officer said income from its subsidiaries and associates, such as Khaleeji Commercial Bank and its Dubai-based subsidiary G Capital should contribute a larger portion to total income in the second half of the year.