Al Salam Bank B.S.C: A Robust Investment Opportunity

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Al Salam Bank B.S.C, a leading Islamic bank based in Bahrain, recently announced the acquisition of 53,680 treasury shares from the Bahrain Bourse. This move has increased the bank's total holding of treasury shares to 36,975,000, representing 1.413% of the issued share capital.

Al Salam Bank B.S.C: A Robust Investment Opportunity

Summary

The bank's recent acquisition of treasury shares signals a strong financial position and a strategic move to increase shareholder value. Coupled with its robust growth strategy, digital-first approach, and commitment to customer satisfaction, Al Salam Bank presents a promising investment opportunity.

Since its establishment in 2006, Al Salam Bank has demonstrated a consistent growth trajectory, emerging as one of the fastest-growing banks in Bahrain and a significant player in the regional Islamic banking industry. The bank's robust financial standing, proven risk mitigation strategies, and agile response to market dynamics underscore its resilience and potential for continued growth. Al Salam Bank's recent acquisition of treasury shares from the Bahrain Bourse is a testament to its strong financial position. This move not only increases the bank's total holding of treasury shares but also represents a strategic investment aimed at enhancing shareholder value. Moreover, the bank's digital-first approach and commitment to delivering tailored financial solutions align with the evolving needs of modern customers. Through its comprehensive range of Shari’a-compliant financial products and services, Al Salam Bank is well-positioned to cater to a diverse clientele. The bank's emphasis on nurturing client relationships and creating a rewarding customer experience further sets it apart in the competitive banking landscape. Its solution-oriented philosophy, underpinned by a focus on personalization, convenience, and efficiency, enhances its appeal to prospective and existing customers alike. In addition, Al Salam Bank's commitment to social responsibility and the financial wellbeing of the community it serves reflects its long-term vision and sustainable approach to banking. Given these factors, Al Salam Bank presents a robust investment opportunity with promising prospects for future growth. The bank's strong financial performance, strategic investments, customer-centric approach, and commitment to sustainability make it a compelling choice for investors seeking a resilient and growth-oriented investment.
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Source

Post share buyback announcement

Summary

On October 5, 2023, Al Salam Bank B.S.C announced that it has purchased 53,680 treasury shares from the Bahrain Bourse. This acquisition increased the bank's total holding of treasury shares from 36,921,320 to 36,975,000, which represents 1.413% of the issued share capital. The bank is licensed and regulated as an Islamic Retail Bank by the Central Bank of Bahrain.

Post share buyback announcement

Summary

The Board of Directors (BOD) meeting date for the purchase decision is not available. The competent authority approved the purchase on 15 August 2023. The buyback program for treasury shares started on the same date and ended on 12 November 2023. The buyback program size was 10% of treasury shares. The purchase date was on 5 October 2023, with 53,680 shares purchased at an average price of 0.183 fils. The purchased shares constitute 1.413% of the issued capital, with approximately 224,710,000 shares remaining for purchase. The company's chairman or his delegate is Ali Yusuf Al Khaja. The company is Al Salam Bank B.S.C. This information is part of the post share buyback announcement.

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