GFH Financial Group B.S.C.

Logotype for GFH Financial Group B.S.C.
Ticker/ISIN
GFH
BH000A0CAQK6
Market/Country
Dubai Financial Market
United Arab Emirates
Latest Stock Price
0.96 AED
2024-02-21

Year to date

0.00 %

3 months

0.06 %

6 months

-0.05 %

1 year

0.00 %

3 years

0.00 %

5 years

0.00 %

Country of Origin: Kingdom of Bahrain

GFH Financial Group B.S.C. has been establishment in 1999 in the Kingdom of Bahrain as an Islamic Wholesale Bank licensed by Central Bank of Bahrain. GFH is a well renowned financial group in the GCC region, with a diversified offering and pioneering track record in Investment Management;  Commercial Banking; and Treasury & Proprietary Investments across the GCC, with strategic investment in the US, Europe and UK. Headquartered in Bahrain, GFH’s innovative approach to Islamic investment banking services has been recognized internationally for over a decade. GFH is listed on four stock exchanges in the GCC, including the Bahrain Bourse, Boursa Kuwait, Dubai Financial Market (DFM) and Abu Dhabi Securities Exchange (ADX).

Latest Pressrelease Summaries

GFH Financial Group has announced the purchase of 134,287,812 treasury shares, increasing its total treasury shares to 218,474,375, which represents 5.7% of the total issued shares as of September 30, 2024. The announcement was made by Mariam Jowhary, the Head of Compliance and AML.
GFH Financial Group announced that the Ordinary General Meeting scheduled for Wednesday, October 2, 2024, did not meet the required quorum, with only 41.58% attendance. Consequently, a second meeting is scheduled for Wednesday, October 9, 2024, at 11:00 a.m. via modern visual communication methods.
GFH Financial Group B.S.C. released an announcement on October 2, 2024, detailing their market-making activities and treasury shares for September 2024. In accordance with the Central Bank of Bahrain's requirements, the company disclosed the market-making transactions conducted by their liquidity providers: SICO in Bahrain Bourse and BHM Capital in Dubai Financial Market and Abu Dhabi Securities Exchange. As of September 30, 2024, GFH held 84,186,563 treasury shares, representing 2.20% of the Group’s total outstanding shares. During September, SICO purchased 2,887,408 securities and sold 1,253,127 securities on Bahrain Bourse, with total money paid amounting to USD 984,520 and total money received amounting to USD 427,304.
GFH Financial Group B.S.C. has announced that its Board of Directors will hold a meeting on Thursday, November 7, 2024, at 2 p.m. (Kingdom of Bahrain time). The agenda includes reviewing the financial results for the third quarter of 2024 and discussing other internal matters. The announcement was made by Mariam Jowhary, Head of Compliance and AML.
GFH Financial Group B.S.C. (GFH) and Ithmaar Holding B.S.C. (Ithmaar) announced on 19th September 2024 that they are still in the negotiation process for GFH to acquire Ithmaar’s financing and investment portfolios, subject to regulatory approvals. Shareholders will be informed of any further developments on a regular basis. The expected financial impact will be disclosed in due course. Previous relevant disclosures were made on 6th March, 7th April, 6th May, and 6th June 2024. The announcement was made by Mariam Jowhary, Head of Compliance & AML at GFH.
GFH Financial Group B.S.C. announced that Capital Intelligence Ratings has reaffirmed their Long-Term and Short-Term Foreign Currency Ratings at "BB-" and "B" respectively, with a stable long-term outlook. The ratings are supported by GFH's adequate liquidity, low refinancing risk, good debt service record, geographic diversification of assets, improved capitalization, and satisfactory profitability. The company stated that there is no expected financial impact from this credit rating classification on its business or financial position.
GFH Financial Group has scheduled an Ordinary General Meeting for October 2, 2024, via video conferencing. If the required legal quorum is not met, subsequent meetings are planned for October 9 and October 16, 2024. The agenda includes: 1. Approval of the minutes from the previous meeting held on March 24, 2024. 2. Approval of the Board's recommendation to establish a Sukuk Programme worth up to $500 million through a Special Purpose Vehicle (SPV), subject to necessary regulatory approvals. 3. Approval of modifications and an offer to early redeem outstanding certificates from the 2020 Sukuk issuance. 4. Delegation of powers to the Board of Directors to carry out the Sukuk Programme and Offer, including obtaining necessary regulatory approvals and concluding agreements. 5. Delegation of powers to the Chief Executive Officer to conduct necessary procedures for the Sukuk Programme and Offer. 6. Discussion of any other matters as per Article 207 of the Commercial Companies Law. The meeting details and contact information are provided for further inquiries.
GFH Financial Group B.S.C. disclosed its market-making activities for August 2024, in compliance with the Central Bank of Bahrain's requirements for monthly reporting by listed companies. The details include transactions by the market maker SICO in Bahrain Bourse and the liquidity provider BHM Capital in Dubai Financial Market and Abu Dhabi Securities Exchange. As of August 31, 2024, SICO purchased 3,198,598 securities and sold 1,274,448 securities. The total money paid was USD 1,007,885, while the total money received was USD 411,461. The securities balance stood at 2,925,000, and the cash balance was USD 4,920,869.

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Dubai Financial Market News

Dubai Financial Market News

News Update From GFH Financial Group B.S.C.

Disclosure: Treasury Shares

On May 3, 2024, GFH Financial Group announced that it has purchased an additional 1,100,000 of its own shares (treasury shares), increasing its total holding from 280,629,510 shares (7.32% of total issued shares) to 281,729,510 shares (7.35% of total issued shares). The decision to purchase these shares was made by the company's board of directors in September 2021 and approved by the Authority in April 2024. The average purchase price was $0.302 USD per share, representing 0.029% of the issued capital. After this purchase, there are 101,529,873 shares remaining for purchase.

1. Attached Document

Dubai Financial Market News

Dubai Financial Market News

News Update From GFH Financial Group B.S.C.

Disclosure: Treasury Shares

On 1st May 2024, GFH Financial Group B.S.C. announced that it has purchased 27,112,532 of its own shares (treasury shares). This purchase increased the total holding of treasury shares from 253,516,978 shares, representing 6.61% of the total issued shares, to 280,629,510 shares, representing 7.32% of total issued shares. The decision to purchase was made during the company's board meeting in September 2021 and the authority approval for the purchase was given in April 2024. The average purchase price was 0.297 USD per share, which constitutes 0.707% of the issued capital. After this purchase, 102,629,873 shares remain available for purchase. The announcement was made by Mariam Jowhary, the Head of Compliance & AML of the company.

1. Attached Document

Dubai Financial Market News

Dubai Financial Market News

News Update From GFH Financial Group B.S.C.

Disclosure: Treasury Shares

GFH Financial Group B.S.C. has announced the purchase of 38,662,943 of its own shares (treasury shares), increasing its total holding from 214,854,035 (5.61% of total issued shares) to 253,516,978 (6.61% of total issued shares) as of 30th April 2024. The decision to purchase was made in a company board meeting in September 2021, with authority approval obtained in April 2024. The average purchase price was $0.297 USD per share, accounting for 1.009% of the issued capital. There are still 129,742,405 shares remaining for purchase.

1. Attached Document

Dubai Financial Market News

Dubai Financial Market News

News Update From GFH Financial Group B.S.C.

Disclosure: Treasury Shares

GFH Financial Group B.S.C. has announced the purchase of 13,820,630 of its own shares (treasury shares), increasing its total treasury shares from 201,033,405 (5.25% of total issued shares) to 214,854,035 (5.61% of total issued shares) as of 29th April 2024. The decision to purchase was made in a board meeting in September 2021, and the purchase was approved by the Authority in April 2024. The average purchase price was USD 2910 per share. The remaining shares available for purchase are 168,405,348.

1. Attached Document

Dubai Financial Market News

Dubai Financial Market News

News Update From GFH Financial Group B.S.C.

Disclosure: Treasury Shares

On 28th April 2024, GFH Financial Group B.S.C. announced that it had purchased 429,316 of its own shares, also known as treasury shares. This acquisition increased the total holding of treasury shares from 200,604,089 (representing 5.23% of the total issued shares) to 201,033,405 (representing 5.25% of total issued shares). The decision to purchase was made during a board meeting in September 2021 and was approved by the Authority in April 2024. The average purchase price was 0.28 USD per share. After this purchase, the number of shares remaining for purchase is 182,225,978.

1. Attached Document

Dubai Financial Market News

Dubai Financial Market News

News Update From GFH Financial Group B.S.C.

Disclosure: Treasury Shares

GFH Financial Group announced on 26/04/2024 that it has acquired 16,763,304 of its own shares (treasury shares), increasing its total holding from 183,840,785 shares (representing 4.80% of total issued shares) to 200,604,089 shares (representing 5.23% of total issued shares). The decision to purchase was made in a board of directors meeting in September 2021, and the purchase was approved by the Authority in April 2024. The shares were purchased at an average price of 0.283 USD, representing 0.437% of the issued capital. Following this purchase, 182,655,294 shares remain available for purchase.

1. Attached Document

Dubai Financial Market News

Dubai Financial Market News

News Update From GFH Financial Group B.S.C.

Disclosure: Treasury Shares

On April 25, 2024, GFH Financial Group B.S.C. announced that it has purchased 1,791,203 of its treasury shares. This acquisition increases the total holding of treasury shares from 182,049,582 (representing 4.75% of total issued shares) to 183,840,785 (representing 4.80% of total issued shares). The decision to purchase was made during the company's board of directors meeting in September 2021, and the purchase was approved by the Authority in April 2024. The average purchase price was 0.272 USD per share, and the purchased shares represent 0.047% of the issued capital. After this purchase, the number of shares remaining for purchase is 199,418,598. The announcement was signed by Mariam Jowhary, the Head of Compliance & AML.

1. Attached Document

Dubai Financial Market News

Dubai Financial Market News

News Update From GFH Financial Group B.S.C.

Disclosure: Treasury Shares

On 24/04/2024, GFH Financial Group B.S.C. announced that in accordance with the resolution from the Ordinary General Meeting on 24th March 2024, it has been approved to repurchase the Group's shares (treasury shares) up to a maximum of 10% of the total issued shares. The company has obtained approval from CBB to repurchase its shares and will commence the share repurchase from 25th April 2024. The announcement was signed by Mariam Jowhary, Head of Compliance & AML.

1. Attached Document

Dubai Financial Market News

Dubai Financial Market News

News Update From GFH Financial Group B.S.C.

Disclosure: GFH Partners Board Appointment

On 20/04/2024, GFH Financial Group B.S.C. announced the appointment of Mr. Nabeel Kanoo as a Board member in its subsidiary, GFH Partners. The announcement was signed by Mariam Jowhary, the Head of Compliance & AML. Further details were provided in an attached release.

1. Attached Document

Dubai Financial Market News

Dubai Financial Market News

News Update From GFH Financial Group B.S.C.

Disclosure: Update on the Progress of the Discussions to Acquire Ithmaar’s Financing and Investment Portfolios

On 07/04/2024, GFH Financial Group B.S.C. announced that it is in ongoing discussions with Ithmaar Holding B.S.C. to acquire Ithmaar’s financing and investment portfolios. The transaction structure is still being finalized and agreed upon, and is subject to due diligence and regulatory approvals. The Group expects the transaction to have a positive and significant impact on its financials and increase its returns. Shareholders will be regularly updated on further developments.

1. Attached Document