GFH Financial Group B.S.C.

On November 14, 2023, GFH Financial Group B.S.C. announced the successful completion of its Q3 2023 financial results webcast. The online session was broadcasted live at 1:00 p.m. Kingdom of Bahrain time. The announcement follows a market notification by GFH on November 9, 2023, inviting shareholders and investors to attend the webcast. The presentation discussed during the session and the script of the live webcast were attached to the announcement. The information was signed by Mariam Jowhary, Head of Compliance & AML at GFH Financial Group B.S.C.

The GFH Financial Group held a Board of Directors meeting on November 13, 2023. The meeting, which took place at 2:00 pm Bahrain time, discussed the financial results for the third quarter of 2023, ending on September 30, 2023, and other internal matters. The financial results for the third quarter of 2023 were attached to the announcement.

GFH Financial Group has reported a 19.14% increase in net profit attributable to shareholders for the first nine months of 2023, totaling $78.92 million. The group's total income for Q3 2023 was $87.53 million, a 32.82% increase YoY, and the shareholder's profit was $24.31 million, a 1.04% increase YoY. However, the earnings per share decreased by 2.74% YoY. The group's strong financial performance was attributed to contributions from its core business lines, including investment management, commercial banking, and treasury & proprietary investments. Notably, the group generated $75.75 million of income from investment banking activities during Q3 2023. Capital Intelligence Ratings affirmed GFH's long and short-term foreign currency ratings at 'BB-' and 'B', respectively.

The text provides information about GFH Financial Group BSC, a company registered with the Central Bank of Bahrain as an Islamic wholesale bank (Commercial Registration: 44136). The company's registered office is located on the 29th floor of Building 1398, East Tower, Bahrain Financial Harbour, Manama, Kingdom of Bahrain. The board of directors includes Ghazi Faisal Ebrahim Alhajeri (Chairman), Edris Mohammed Rafi Alrafi (Vice Chairman), and five other directors. The Chief Executive Officer is Hisham Ahmed Alrayes and the company's auditors are KPMG Fakhro. The text also mentions a condensed consolidated interim financial report as of 30 September 2023.

The GFH Financial Group B.S.C. held a board of directors meeting on the 13th of November, 2023. The meeting was conducted to discuss and resolve the financial results for the third quarter of 2023, which ended on the 30th of September, 2023, and other internal matters. The financial results for the third quarter of 2023 were attached to the announcement.

On November 9, 2023, GFH Financial Group B.S.C. announced the webcast for its third quarter financial results of 2023. The company invited shareholders and investors to join the webcast, which will cover the financial results for the period ending on September 30, 2023. The webcast is scheduled for November 14, 2023, at 1:00 pm Bahrain time. The webcast can be accessed via a provided link. The announcement was signed by Mariam Jowhary, the Head of Compliance & AML at GFH Financial Group.

The GFH Financial Group has clarified ongoing rumors about its intention to acquire an educational group in Egypt. The company confirmed that its educational platform, Britus, is constantly seeking investment opportunities in the education sector by discussing with various parties across different countries. However, they emphasized that there are no final agreements signed to acquire any educational institutions in Egypt at the current time. The potential financial impact of such an acquisition cannot be assessed at this stage.

GFH Financial Group B.S.C. has confirmed its plans to list its shares on the Saudi stock market (Tadawul). This is an existing plan that was announced and presented to shareholders in the 2021 general assembly meeting and approved in April 2022. The Group is currently working on fulfilling the necessary regulatory requirements and achieving the vision of its shareholders. The financial impact of this move cannot be assessed at the current stage.

GFH Financial Group has announced the acquisition of 7,433,562 of its own shares (treasury shares) on October 25, 2023. This increases its total holding of treasury shares from 375,825,821 (9.81% of total issued shares) to 383,259,383 (10% of total issued shares). The decision to purchase was taken at a board of directors meeting on September 14, 2021, and the purchase was approved by the Authority on October 1, 2023. The average purchase price was USD 5220 per share, representing 10.94% of the issued capital.

On October 24, 2023, GFH Financial Group (Trading Code: GFH) announced that they are confirming the statements made by their Group CEO, Mr. Hisham Al-Rayes, regarding two acquisitions in the medical centers and logistics sectors. This information was shared during the 7th edition of the "Future Investment Initiative" (FII). The investment is expected to have a positive impact on the group's financials and increase their returns. Further details can be found in the attached release. The announcement was made by Mariam Jowhary, the Head of Compliance & AML.