UPDATE 1-Gulf Finance House swings to Q3 loss on lower income

* Swings to third-quarter loss of $29 million

* Loss due to lower income from placements

(Adds background, analyst comment)

By Frederik Richter

MANAMA, Nov 10 (Reuters) - Gulf Finance House (GFH) GFHB.BH (GFHK.KW) posted its fourth consecutive quarterly loss on Tuesday as revenue from placing investments dwindled. Bahrain's largest Islamic investment house by market value said it made a net loss of $29 million in the three months ended Sept. 30, compared with a net profit of $82.1 million in the year-earlier period and a second-quarter loss of $54 million.

Its business model of earning fees on financing arranged for real estate and infrastructure projects has been hit by a regional downturn in property markets. It also had to book impairment charges on falling asset prices.

It raised $300 million in a rights issue in October to repair its balance sheet. (Editing by John Irish and David Holmes)