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

The GFH Financial Group has announced the acquisition of 14,126,435 of its own shares, also known as treasury shares. This purchase has increased the total holding of treasury shares from 57,969,050 (representing 1.51% of the total issued shares) to 72,095,485 (representing 1.88% of total issued shares) as of 12th March 2024. The decision to buy these shares was made in a company board meeting in September 2021 and the purchase was approved by the Authority in March 2024. The average purchase price for the shares was USD 7020.

On 11/03/2024, GFH Financial Group B.S.C. announced the sale of 40,777,778 of its treasury shares, representing 1.06% of its total issued shares, to a strategic investor. As a result, the total number of treasury shares held by the company now stands at 57,969,050 shares, representing 1.51% of the total. The announcement was made by Mariam Jowhary, the Head of Compliance & AML of the company.

GFH Financial Group B.S.C. announced on 11/03/2024 that it has received approval from the Central Bank of Bahrain (CBB) to repurchase its shares. The repurchase is in line with the Ordinary General Meeting's resolution dated 14th October 2021, which approved the repurchase of up to 10% of the Group's total issued shares (treasury shares). The company will begin the share repurchase from 12th March 2024. The announcement was signed by Mariam Jowhary, Head of Compliance & AML.

The GFH Financial Group has announced that it acted as one of the Joint Lead Managers and bookrunners for the successful issuance of a $500 million 5-year sukuk by Arabian Centers Company, Saudi Arabia's largest shopping mall owner, developer, and operator. The investment is expected to reflect positively on the Group’s financials and increase the returns for the Group.

The GFH Financial Group B.S.C. and Ithmaar Holding B.S.C. have announced that they are in discussions for GFH to acquire Ithmaar's financing and investment portfolios. The discussions are subject to due diligence and regulatory approvals, and shareholders will be informed of any further developments. The transaction is expected to have a positive and significant impact on the financials and increase the returns for the Group. The announcement was made by Mariam Jowhary, Head of Compliance & AML at GFH Financial Group.

GFH Financial Group B.S.C. (Trading Code: GFH) has announced a board meeting scheduled for Tuesday, 14th May 2024 at 2 p.m. Kingdom of Bahrain’s time. The agenda of the meeting includes the financial results for the first quarter of 2024 and other internal matters. The announcement was signed by Mariam Jowhary, Head of Compliance & AML.

GFH Financial Group BSC, an Islamic wholesale bank established in 1999 in Bahrain, operates in accordance with Islamic Sharia principles. In 2004, GFH transformed from a closed shareholding company to a public one, with shares listed on the Bahrain Bourse, Boursa Kuwait, Dubai Financial Market, and Abu Dhabi Securities Exchange. The group has expanded its investment portfolio globally, managing over $21 billion in assets. GFH has received international recognition, including being ranked among Middle East's Top 30 Biggest Asset Managers by Forbes in 2021 and 2022. In 2022, GFH created Infracorp to manage real estate and infrastructure investments. The same year, Infracorp issued a $900 million green sukuk, the first by a Bahraini entity. In 2023, GFH partnered with FII and the World Economic Forum, and expanded its portfolio to include logistics and healthcare assets in the GCC. GFH's corporate governance framework adheres to guidelines issued by the Ministry of Industry and Commerce and the Central Bank of Bahrain. The company's governance philosophy emphasizes transparency, accountability, and stakeholder interests.

The GFH Financial Group B.S.C. announced the nomination results for the membership of its Board of Directors (BOD) for a new term of three years (2024-2027). The list of nominees who have fulfilled all the conditions and requirements for nomination includes 18 individuals. Their detailed files can be found in the attached schedule.

GFH Financial Group has announced signing an agreement with Southern Star Investments W.L.L. to sell a portion of its ownership in Khaleeji Bank's Additional Tier 1 Certificates. The transaction, valued at USD 74,962,912, will result in Southern Star Investments owning 282,610,178 ordinary shares, representing 25% of the issued and paid-up capital of Khaleeji Bank. The deal is expected to have a positive impact on GFH Financial Group's financials and increase their returns.

On 05/03/2024, GFH Financial Group B.S.C. (trading code GFH) announced the sale of its treasury shares. The company sold 95,989,635 shares, which represents 2.5% of its total issued shares, to Vandik W.L.L. After the sale, the total number of treasury shares held by GFH Financial Group is 123,115,501, representing 3.21% of its total shares. The announcement was made by Mariam Jowhary, the Head of Compliance & AML of the company.