Press releases, Reports & Disclosures for GFH Financial Group B.S.C.

The text provides details about GFH Financial Group BSC, an Islamic wholesale bank registered with the Central Bank of Bahrain. The registered office is located on the 2nd Floor, Harbor House, Building Number 1436, Block 346, Road 4626, Manama, Kingdom of Bahrain. The contact telephone number is +973 17538538. The directors include Abdulmohsen Rashed Alrashed (Chairman from March 2024), Ghazi Faisal Ebrahim Alhajeri (Vice Chairman), Hisham Ahmed Alrayes, Ali Murad, Darwish Al Ketbi, Fawaz Talal Al Tamimi, Rashid Nasser Al Kaabi, Yusuf Abdulla Taqi (until March 2024), Edris Mohd Rafi Mohd Saeed Al-Rafi (until March 2024), Abdulaziz Abdulhamid Albassam (from March 2024), Abdulla Jehad Alzain (from March 2024), and H.H Shaikha Minwa Bint Ali Bin Khalifa Al Khalifa (from March 2024). The Chief Executive Officer is Hisham Ahmed Alrayes and the auditors are KPMG Fakhro. The document pertains to the condensed consolidated interim financial information as of 30 June 2024.

GFH Financial Group B.S.C. announced that its Board of Directors met on Monday, August 12, 2024, at 2:00 pm Bahrain time. During the meeting, the Board discussed and approved the financial results for the second quarter of 2024, ending on June 30, 2024, along with other internal matters. The financial results for the second quarter of 2024 are attached. The announcement was made by Mariam Jowhary, Head of Compliance & AML.

The text provides details about a financial institution registered as an Islamic wholesale bank with the Central Bank of Bahrain. The registered office is located on the 2nd Floor of Harbor House in Manama, Kingdom of Bahrain. The board of directors includes Abdulmohsen Rashed Alrashed (Chairman from March 2024), Ghazi Faisal Ebrahim Alhajeri (Vice Chairman), Hisham Ahmed Alrayes (also CEO), and several other members with some terms ending and others beginning in March 2024. The auditors are KPMG Fakhro. The information pertains to GFH Financial Group BSC and includes condensed consolidated interim financial information as of 30 June 2024.

GFH reported an 11.2% increase in net profit attributable to shareholders for the first half of 2024, totaling US$60.75 million. The total income for the first half of 2024 was US$332.23 million, reflecting a 53.7% year-on-year increase. Earnings per share (EPS) rose by 9.7% year-on-year to US cents 1.70. For the second quarter of 2024, total income was US$169.26 million, with a 52.3% year-on-year increase, and net profit attributable to shareholders was US$33.61 million, a 9.8% year-on-year rise. Significant highlights include the Group's early exit from its joint investment in Citrix with Carlyle, the addition of Al Qasimi as a major shareholder, and the appointment of BHM as a market maker for the Group’s shares in UAE markets. Income growth of 154.6% year-on-year was mainly driven by the sale of real estate assets, including the Group’s investment in Charthouse Bahrain. Fitch Ratings affirmed the Group’s Long- and Short-Term Issuer Default Ratings (IDR) at 'B', with a Stable outlook on the Long-Term IDR.

GFH Financial Group B.S.C. has announced a webcast for its second-quarter financial results of 2024, for the period ending June 30, 2024. The webcast is scheduled for Wednesday, August 14, 2024, at 01:00 pm Bahrain time. Shareholders and investors are invited to attend. The announcement was made by Mariam Jowhary, Head of Compliance & AML, and includes a web link for registration.

On August 7, 2024, GFH Financial Group B.S.C. disclosed its market-making activities for July 2024, in compliance with the Central Bank of Bahrain's requirements. The report details transactions conducted by GFH's market maker, SICO, on the Bahrain Bourse, and by liquidity provider BHM Capital on the Dubai Financial Market and Abu Dhabi Securities Exchange. For July 2024, SICO purchased a total of 1,198,959 securities and sold 198,109 securities on the Bahrain Bourse, with total money paid amounting to USD 389,680 and total money received amounting to USD 64,769. The securities balance was 1,000,850, and the cash balance was USD 5,521,961.

GFH Financial Group B.S.C. announced on July 22, 2024, that it has increased its stake in GFH Equities B.S.C. Closed (formerly known as GBCorp B.S.C. Closed) by 12.50%, raising its total ownership to 76.63%. This investment is expected to positively impact the Group's financials and increase its returns. The announcement was made by Mariam Jowhary, Head of Compliance & AML.

GFH Financial Group B.S.C. announced on 21st July 2024 that it has received the necessary regulatory approvals to appoint SICO as the Market Maker for its shares listed on the Bahrain Bourse and BHM Capital as the Liquidity Provider for its shares listed on the Dubai Financial Market and Abu Dhabi Securities Exchange. These activities will commence on 22nd July 2024. The approval is valid until 11th July 2025, and any extension will require prior regulatory approval. In accordance with the Central Bank of Bahrain's regulations, SICO and BHM Capital can collectively hold no more than 3% of the total issued shares of GFH. The announcement was signed by Mariam Jowhary, Head of Compliance & AML.

GFH Financial Group B.S.C. issued an announcement on July 11, 2024, to clarify statements made by the CEO of GFH Partners Limited, the group's global asset management arm. The clarification specifies that the mentioned total value of one billion dollars represents the expected total value of assets owned by funds that have been launched and will be launched throughout the rest of the year. This includes both equity and debt portions of the funds. The financial impact of this cannot be assessed at the current stage. The announcement was signed by Mariam Jowhary, Head of Compliance & AML.

GFH Financial Group B.S.C. (GFH) announced that its global asset management arm, GFH Partners Limited (GFH P), based in the Dubai International Financial Centre, has successfully launched and closed its seventh investment fund focused on logistics and industrial assets in the United States. This investment is expected to positively impact the Group's financial statements and increase its returns. For more details, refer to the attached release. The announcement was made by Mariam Jowhary, Head of Compliance & AML.