GFH Financial Group B.S.C.

GFH has reported a 13.03% increase in net profit attributable to shareholders for Q1 2024, reaching a total of US$ 27.14 million. This growth was driven by contributions from the group's subsidiaries, associates, and investments. The company saw strong growth in investment banking, with income of US$ 46.2 million for the quarter, and made partial exits from its proprietary investments, including real estate. It also sold 25% of Khaleeji Bank to strategic investors. GFH was named "World's Best Islamic Investment Bank 2024" by the Global Finance Awards and extended its partnership with the FII Institute for another three years.

The text provides details about GFH Financial Group BSC, a company registered with the Central Bank of Bahrain as an Islamic wholesale bank. The registered office is located on the 2nd floor of Harbor House, Building Number 1436, Block 346, Road 4626, Manama, Kingdom of Bahrain. The current directors include Abdulmohsen Rashed Alrashed, Ghazi Faisal Ebrahim Alhajeri, Hisham Ahmed Alrayes, and others. Some directors will be leaving in March 2024, while others will be joining. The company's CEO is Hisham Ahmed Alrayes and its auditors are KPMG Fakhro. The text also mentions a condensed consolidated interim financial information report as of 31 March 2024.

GFH has reported a 13.03% increase in net profit attributable to shareholders for Q1 2024, totaling $27.14 million. The total income for Q1 2024 was $162.97 million, marking a 55.12% YoY increase. The group saw double-digit growth in income and profitability, supported by contributions from its subsidiaries, associates, and investments. The investment banking sector showed strong growth, with income of $46.2 million for the quarter. The group also made partial exits from proprietary investments, including real estate, and sold 25% of Khaleeji Bank to strategic investors. The group's Treasury and proprietary investments portfolio made significant contributions, showing strong YoY growth. GFH was named the "World's Best Islamic Investment Bank 2024" by the Global Finance Awards and extended its partnership with the FII Institute for another three years.

The GFH Financial Group announced that its Board of Directors met on 14th May 2024 to discuss and resolve the financial results for the first quarter of 2024, which ended on 31st March 2024, and other internal matters. The financial results for the first quarter of 2024 were attached to the announcement.

The GFH Financial Group held a Board of Directors meeting on 14th May 2024 to discuss and resolve the financial results for the first quarter of 2024, which ended on 31st March 2024, and other internal matters. The financial results for the first quarter of 2024 are attached.

GFH Financial Group B.S.C. has announced a webcast for the financial results of the first quarter of 2024, which will be held on 15th May 2024 at 01:00 pm Kingdom of Bahrain Time. The webcast, which will cover the period ending 31st March 2024, is open to all shareholders and investors of the company. The announcement was signed by Mariam Jowhary, Head of Compliance & AML.

On 09/05/2024, GFH Financial Group B.S.C. announced a reduction in its ownership of Khaleeji Bank B.S.C. The company has sold 6.11% of its shares in Khaleeji Bank, reducing its ownership to 57.96%. The financial impact of this sale is expected to be nil, and there have been no previous relevant disclosures. The announcement was made by Mariam Jowhary, the Head of Compliance & AML at GFH Financial Group.

On 9th May 2024, GFH Financial Group B.S.C. announced that it has acquired 12.346% of the shares in Seef Properties B.S.C. The company expects that this transaction will have a positive impact on its financials. The announcement was made by Mariam Jowhary, the Head of Compliance & AML of GFH Financial Group B.S.C.

The GFH Financial Group has announced the purchase of 2,000,000 of its own shares (treasury shares) on May 7, 2024. This acquisition increases the total holding of treasury shares from 281,729,510 (representing 7.35% of the total issued shares) to 283,729,510 (representing 7.40% of total issued shares). The decision to purchase was made by the company's board of directors in September 2021, with approval from the authority in April 2024. The average purchase price was 0.283 USD per share, representing 0.052% of the issued capital. After this acquisition, 99,529,873 shares remain available for purchase.

On 06/05/2024, GFH Financial Group B.S.C. announced that they are in ongoing discussions to acquire financing and investment portfolios from Ithmaar Holding B.S.C. The transaction structure and definitive documents are currently being finalized. Ithmaar is also arranging an Extraordinary General Meeting for shareholder approval. The discussions are subject to due diligence and regulatory approvals. Shareholders will be regularly updated on any further developments.