MANAMA: Gulf International Bank (GIB) recorded consolidated net income after tax of $100.4 million in 2010, compared with a loss of $152.6 million in the prior year. Net income after tax in the fourth quarter was $14.3 million compared to a loss of $132.4 million in the fourth quarter of 2009. Net interest income, which at $156.2 million represented the bank's principal income source, was 24 percent down. The year-on-year decrease was attributable to the deleveraging and de-risking of the balance sheet, and the prevailing historical low level of interest rates. Fee-related income at $42.2 million was $1.5 million higher than the previous year reflecting the on-going focus by GIB on enhancing fee-based revenue. Trading profits at $12.7 million largely comprised customer-related foreign exchange income.