Bahrain-based bank Gulf Finance House (GFH) has registered a profit of $4.7 million for the second quarter (2012) compared to a net loss of $11.2 million in 2011 mainly driven by income earned from management fees and restructuring of debt, the bank said in a statement Monday. Net profit for the period ending June 30, 2012 rose to $5.7 million from last year's $0.7 million. Total income for the first half reached $32.6 million, similar to last year, when the bank recorded a total income of $32.8 million. Also the bank's total expenses fell from $32.1 million to $26.8 million, thus registering a 17 per cent drop compared to the same period last year.
