GFH Financial Group B.S.C

GFH Financial Group B.S.C. (Trading Code: GFH) announced the successful broadcast of its live webcast session on 14th November 2023. The webcast, which discussed the company's Q3 2023 financial results, was held at 1:00 p.m. Bahrain time. The company had earlier notified the market about the webcast on 9th November 2023. The announcement also included a presentation and the script of the live webcast.

The text provides information about GFH Financial Group BSC, a wholesale Islamic bank registered under the Central Bank of Bahrain with the commercial registration number 44136. The bank's registered office is located on the 29th floor of Building 1398, East Tower, in the Bahrain Financial Harbour, Manama, Kingdom of Bahrain. The board of directors includes Ghazi Faisal Ebrahim Alhajeri as Chairman and Edris Mohammed Rafi Alrafi as Vice Chairman, amongst others. The CEO is Hisham Ahmed Alrayes and the auditors are KPMG Fakhro. The text refers to condensed consolidated interim financial information as of 30 September 2023.

GFH Financial Group has reported a 19.14% year-on-year increase in net profit attributable to shareholders for the first nine months of 2023, totaling $78.92 million. The income for the third quarter of 2023 was $87.53 million, with a shareholders profit of $24.31 million. The group attributes its strong financial performance to effective strategy implementation and contributions from its core business lines. The company also generated $75.75 million of income from investment banking activities during Q3 2023 and closed three new transactions. The group's ratings were affirmed by Capital Intelligence Ratings, highlighting its sound liquidity, low refinancing risk, and diversified assets.

The GFH Financial Group held a Board of Directors meeting on November 13, 2023, at 2:00 pm Bahrain time. The agenda included discussion and resolution on 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 are attached to the announcement.

On 9th November 2023, the GFH Financial Group B.S.C. announced that it is inviting its shareholders and investors to a webcast for the financial results of the third quarter of 2023, which ended on 30th September 2023. The webcast will be broadcasted as per the schedule provided. The webcast is scheduled for 14th November 2023, at 01:00 pm Kingdom of Bahrain time. The webcast can be accessed through the provided link. The announcement was made by Mariam Jowhary, the Head of Compliance & AML at GFH Financial Group B.S.C.

On 27th October 2023, GFH Financial Group issued a clarification regarding circulating news about its negotiations to acquire an educational group in the Arab Republic of Egypt. The company stated that its educational platform, Britus, is continuously seeking investment opportunities in the education sector across various countries. However, GFH emphasized that no final agreements have been signed to acquire educational institutions in Egypt at the present time. The financial impact of these negotiations cannot be assessed at the current stage.

The GFH Financial Group B.S.C. has confirmed that it is planning to list its shares on the Saudi stock market (Tadawul), a plan which was previously announced and approved by shareholders in April 2022. The group is currently working towards meeting the necessary regulatory requirements for the listing. The potential financial impact of this move cannot be assessed at this stage.

On 24th October 2023, GFH Financial Group B.S.C. announced that the company confirms the statements made by its 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 company expects these investments to have a positive impact on the group's financials and increase returns. Further details can be found in the attached release.