Al Salam Bank B.S.C

Ticker/ISIN
SALAM_BAH
BH000A0J2481
Market/Country
Dubai Financial Market
United Arab Emirates
Latest Stock Price
2.30 AED
2024-06-26

Year to date

0.17 %

3 months

0.16 %

6 months

0.15 %

1 year

0.59 %

3 years

0.00 %

5 years

0.00 %

Al Salam Bank Profile

 

Establishing its headquarters in the Kingdom of Bahrain in 2006, Al Salam Bank has since cemented its reputation as the fastest growing bank in the Kingdom and a highly influential force in the Islamic banking industry on a regional level. Leveraging on its robust financial standing as the industry’s strongest in asset capital, the Bank has a proven track record in risk mitigation and effectively shifting to market dynamics, through its agile and aggressive growth strategy.

 

The Bank has adopted a digital-first mindset to meet the modern-day needs of its clientele, delivering curated financial solutions and a seamless, transformative customer experience. Harnessing the power of data-backed insights and state-of-art technology, Al Salam Bank offers a comprehensive range of innovative and unique Shari’a-compliant financial products and services through its extended network of branches and ATMs. In addition to its diverse range of retail banking services, the Bank also provides corporate banking, private banking, asset management, international transaction banking as well as treasury services.

 

Al Salam Bank’s competitive edge lies in its unrivalled approach to nurturing client relationships, fuelled by a deeply-rooted ethos in humanizing the customer journey through personalization, convenience, and efficiency, creating a refined and rewarding client experience. The Bank prides itself on its solution-oriented philosophy, curating tailored solutions with its clients’ financial needs at the epicenter of everything they do.

 

With a Bahrainization rate of 92%, Al Salam Bank considers its people to be its most valued asset. The Bank has prioritized the wellbeing of its human capital, empowering them with the requisite tools, training and opportunities to create an inspired workforce dedicated to the pursuit of excellence. Championing a highly energetic and collaborative work environment, Al Salam Bank fosters a culture of innovation which celebrates collective achievements.

 

Encouraging a socially responsible culture from within to drive positive change, the Bank is committed to supporting the social and financial wellbeing of the community in which it resides. Driven by the shared passion of its people to form deep relationships with clients, the Bank aims to create solutions to help its customers meet their financial goals in a sustainable manner.

Latest Pressrelease Summaries

Al Salam Bank B.S.C
Al Salam Bank B.S.C announced that its Board of Directors held a meeting on Thursday, 13th June 2024, at 10:00 am. During this meeting, the board approved regular and periodic items. The announcement was addressed to Bahrain Bourse and Dubai Financial Market and was signed by Ali Yusuf Al Khaja, Head of Compliance and MLRO. The bank is licensed and regulated as an Islamic Retail Bank by the Central Bank of Bahrain.
Al Salam Bank B.S.C
Al Salam Bank B.S.C. announced that its Board of Directors held a meeting on Thursday, 13th June 2024, at 10:00 am. During the meeting, the Board approved regular and periodic items. The announcement was addressed to Bahrain Bourse and Dubai Financial Market. The notice was signed by Ali Yusuf Al Khaja, Head of Compliance and MLRO.
Al Salam Bank B.S.C
Al Salam Bank in Bahrain has launched a new financing solution for clients purchasing watercraft such as boats, jet skis, and jetties. The initiative, the first of its kind in Bahrain, includes a campaign running from May 29 to July 31, 2024, where five winners will receive three months of paid installments, capped at BD 1,000 each. The bank aims to support the maritime sector with financial solutions like "Buy Now Pay Later" options and other banking products. The campaign is in partnership with Sea World and Yamaha, offering clients extended warranties, special service packages, and discounts. Clients can apply for financing at showrooms or through dedicated relationship managers and enjoy benefits like a 6-month grace period, competitive profit rates, and flexible payments. For more information, clients can visit the bank's website, contact via WhatsApp, or book an appointment through Skiplino.
Al Salam Bank B.S.C
Al Salam Bank has completed the acquisition of Kuwait Finance House Bahrain (KFH Bahrain) from Kuwait Finance House Group (KFH Group). This marks Al Salam Bank's fifth M&A transaction, further establishing its position as the fastest growing bank in Bahrain. The consolidation will increase Al Salam Bank's balance sheet by 28%, accelerate market share acquisition, and enhance its offerings. Both parties will continue to work together to ensure a smooth integration and uninterrupted banking experience for customers. The transaction is seen as a significant milestone in achieving strategic objectives and maximizing shareholder value. Customers will continue to access all existing services provided by KFH Bahrain.
Al Salam Bank B.S.C
Al Salam Bank B.S.C. has announced the completion of its acquisition of Kuwait Finance House – Bahrain B.S.C.(c) ("KFH Bahrain") from Kuwait Finance House K.S.C.P. ("KFH Group"). The acquisition was finalised on 14th May 2024, following the receipt of regulatory approvals. The financial impact of this acquisition will be reflected in Al Salam Bank's Q2 2024 consolidated financial statements.
Al Salam Bank B.S.C
Al Salam Bank B.S.C reported various financial figures for the end of March 2024. These figures include placements with financial institutions at 353,633 BHD, Murabaha financing at 757,751 BHD, Mudaraba financing at 633,248 BHD, finance lease assets at 898,644 BHD, and other assets. The bank also reported non-trading investments at a fair value through equity of 163 BHD. The report also noted that non-Shari'a compliant assets resulted from the acquisition of BMI Bank, AlSalam Seychelles (ASBS), and Bahraini Saudi Bank B.S.C. ("BSB"). The non-sharia income is transferred to a charity pool, not recognised in the income statement, and disbursed as charity and donation contributions.
Al Salam Bank B.S.C
Al Salam Bank has reported a 36.3% increase in net profits for Q1 2024, amounting to BD 14.0 million (US$ 37.1 million), compared to BD 10.3 million (US$ 27.3 million) for the same period in 2023. This increase was mainly driven by growth in the bank's core banking activities and the acquisition of a subsidiary in Q2 2023. Earnings per share also rose by 32.4% to 4.9 fils (US$ 13.0 cents). Total income for the quarter was BD 68.7 million (US$ 182.2 million), a 46.0% increase from BD 47.0 million (US$ 124.8 million) in Q1 2023. Total assets increased by 3.3% to BD 5.3 billion (US$ 14.1 billion), while total equity attributable to parent shareholders increased by 2.2% to BD 344.8 million (US$ 914.5 million). The bank's capital adequacy ratio stood at 22.3% as of 31 March 2024.
Al Salam Bank B.S.C
Al Salam Bank has launched a pre-summer campaign for its VISA Credit and Multi-Currency Prepaid Cardholders, offering the chance to win a fully paid holiday among other prizes. For every BD 50 spent using these cards from 5th May to 30th June 2024, customers will receive one entry into the prize draw. The main prize includes a trip for two to Istanbul, with a four-night stay at a 5-star hotel and a choice of two unique experiences. Three other winners will receive BD 2,000 credited to their cards for their summer vacations. The bank also offers exclusive pre-summer foreign exchange rates for its Multi-Currency Prepaid Cardholders.

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Dubai Financial Market News
Dubai Financial Market News

News Update From Al Salam Bank B.S.C

Disclosure: Clarification from the company

1. Attached Document

Dubai Financial Market News
Dubai Financial Market News
AkSharesKumar
AkSharesKumar

Commented on JohnnyDebts Transaction regarding Al Salam Bank B.S.C

Nice move! Al Salam Bank could be a strong play in the Financials sector. Diversification is key, and it looks like you're onto something good. Keep an eye on those growth opportunities!

AkSharesKumar
AkSharesKumar

Commented on FinDiesels Transaction regarding Al Salam Bank B.S.C

Nice move, FinDiesel! Al Salam Bank at 1.89 AED sounds like a solid buy. Diversifying with Financials complements your robust portfolio in Industrials and Materials. Keep up the winning streak! 💪🚀

QueenOfCommunication
QueenOfCommunication

Commented on FinanceBroAEDs Transaction regarding Al Salam Bank B.S.C

Nice move! Al Salam Bank seems like a solid buy at that price. Always intriguing to see more diverse sector plays, especially with your Financials and Industrials focus. Curious to see how this pans out! 🚀📈

Dubai Financial Market News
Dubai Financial Market News

News Update From Al Salam Bank B.S.C

Disclosure: Results of BOD Meeting

Al Salam Bank B.S.C announced that its Board of Directors held a meeting on Thursday, 13th June 2024, at 10:00 am. During this meeting, the board approved regular and periodic items. The announcement was addressed to Bahrain Bourse and Dubai Financial Market and was signed by Ali Yusuf Al Khaja, Head of Compliance and MLRO. The bank is licensed and regulated as an Islamic Retail Bank by the Central Bank of Bahrain.

1. Attached Document

Dubai Financial Market News
Dubai Financial Market News

News Update From Al Salam Bank B.S.C

Disclosure: BOD meeting

Al Salam Bank B.S.C. announced that its Board of Directors held a meeting on Thursday, 13th June 2024, at 10:00 am. During the meeting, the Board approved regular and periodic items. The announcement was addressed to Bahrain Bourse and Dubai Financial Market. The notice was signed by Ali Yusuf Al Khaja, Head of Compliance and MLRO.

1. Attached Document

Dubai Financial Market News
Dubai Financial Market News
Dubai Financial Market News
Dubai Financial Market News

News Update From Al Salam Bank B.S.C

Disclosure: Notification regarding shareholder ownership change

1. Attached Document

Dubai Financial Market News
Dubai Financial Market News

News Update From Al Salam Bank B.S.C

Disclosure: Press release

Al Salam Bank in Bahrain has launched a new financing solution for clients purchasing watercraft such as boats, jet skis, and jetties. The initiative, the first of its kind in Bahrain, includes a campaign running from May 29 to July 31, 2024, where five winners will receive three months of paid installments, capped at BD 1,000 each. The bank aims to support the maritime sector with financial solutions like "Buy Now Pay Later" options and other banking products. The campaign is in partnership with Sea World and Yamaha, offering clients extended warranties, special service packages, and discounts. Clients can apply for financing at showrooms or through dedicated relationship managers and enjoy benefits like a 6-month grace period, competitive profit rates, and flexible payments. For more information, clients can visit the bank's website, contact via WhatsApp, or book an appointment through Skiplino.

1. Attached Document

Page 1