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

GFH Financial Group BSC is registered as an Islamic wholesale bank with the Central Bank of Bahrain, under commercial registration number 44136. The registered office is located on the 2nd Floor of Harbor House, Building Number 1436, Block 346, Road 4626, Manama, Kingdom of Bahrain. The contact telephone number is +973 17538538. The board of directors includes: - Abdulmohsen Rashed Alrashed, Chairman (from March 2024) - Ghazi Faisal Ebrahim Alhajeri, Vice Chairman - Hisham Ahmed Alrayes - Ali Murad - Darwish Al Ketbi - Fawaz Talal Al Tamimi - Rashid Nasser Al Kaabi - Yusuf Abdulla Taqi (until March 2024) - Edris Mohd Rafi Mohd Saeed Al-Rafi (until March 2024) - Abdulaziz Abdulhamid Albassam (from March 2024) - Abdulla Jehad Alzain (from March 2024) - H.H Shaikha Minwa Bint Ali Bin Khalifa Al Khalifa (from March 2024) The Chief Executive Officer is Hisham Ahmed Alrayes, and the auditors are KPMG Fakhro. The condensed consolidated interim financial information is dated 30 June 2024.

GFH reported an 11.2% increase in net profit attributable to shareholders for the first half of 2024, totaling US$60.75 million. Total income for the first half of 2024 was US$332.23 million, up 53.7% year-over-year, while earnings per share (EPS) rose 9.7% to 1.70 US cents. For Q2 2024, total income was US$169.26 million, a 52.3% increase year-over-year, with net profit attributable to shareholders at US$33.61 million, up 9.8%, and EPS at 0.94 US cents, up 9.3%. Key highlights include: - Strong double-digit income growth of 52.3% YoY for Q2 and 53.7% YoY for the first half of the year. - Early exit from a joint investment in Citrix with Carlyle, 18 months ahead of the projected timeline. - Al Qasimi becoming a major shareholder and BHM appointed as a market maker for the Group’s shares in UAE markets. - A 154.6% YoY growth mainly from income generated from the sale of real estate assets, including the Group’s investment in Charthouse Bahrain. - Fitch Ratings affirmed the Group’s Long- and Short-Term Issuer Default Ratings (IDR) at 'B', with a Stable outlook on the Long-Term IDR.

GFH Financial Group B.S.C. announced that its Board of Directors held a meeting on Monday, August 12, 2024, at 2:00 PM Bahrain time. During the meeting, the board discussed and approved the financial results for the second quarter of 2024, for the period ending June 30, 2024, as well as other internal matters. The financial results for the second quarter of 2024 are attached. The announcement was made by Mariam Jowhary, Head of Compliance & AML.

GFH Financial Group B.S.C. announced that it will host a webcast for its second quarter financial results of 2024. The webcast, aimed at shareholders and investors, will cover the financial period ending on June 30, 2024. The event is scheduled for Wednesday, August 14, 2024, at 01:00 pm Bahrain time. Interested parties can register via the provided web link. The announcement was signed by Mariam Jowhary, Head of Compliance & AML, and includes the company seal.

GFH Financial Group B.S.C. disclosed its market-making activities for July 2024, in compliance with the Central Bank of Bahrain's requirements for monthly reporting. The report details transactions conducted by GFH’s market maker, SICO, on the Bahrain Bourse, and liquidity provider, BHM Capital, on the Dubai Financial Market and Abu Dhabi Securities Exchange. In July 2024, SICO purchased a total of 1,198,959 securities and sold 198,109 securities on the Bahrain Bourse. The total money paid amounted to USD 389,680, while the total money received was USD 64,769. The securities balance stood at 1,000,850, and the cash balance was USD 5,521,961.

GFH Financial Group B.S.C. announced on July 22, 2024, that it has increased its stake in GFH Equities B.S.C. Closed (formerly known as GBCorp B.S.C. Closed) by 12.50%, bringing its total stake to 76.63%. This investment is expected to positively impact the group’s financials and increase its returns. The announcement was made by Mariam Jowhary, Head of Compliance & AML.

On July 21, 2024, GFH Financial Group B.S.C. announced the appointment of SICO as the Market Maker for its shares listed on the Bahrain Bourse and BHM Capital as the Liquidity Provider for its shares listed on the Dubai Financial Market and Abu Dhabi Securities Exchange. This follows shareholder approval from March 26, 2023, and the necessary regulatory approvals have been obtained. SICO and BHM Capital will begin their activities on July 22, 2024. The approval is valid until July 11, 2025, and any extension will require prior regulatory approval. In accordance with Central Bank of Bahrain regulations, SICO and BHM Capital can collectively hold no more than 3% of GFH's total issued shares. The announcement was made by Mariam Jowhary, Head of Compliance and AML.

On July 11, 2024, GFH Financial Group B.S.C. (trading code: GFH) issued a clarification regarding statements made by the CEO of GFH Partners Limited, the global asset management arm of the group. The clarification specifies that the mentioned amount of one billion dollars represents the total expected value of assets owned by the funds launched and to be launched throughout the year. This includes both equity and debt portions of the funds. The financial impact of this cannot be assessed at the current stage. The announcement was signed by Mariam Jowhary, Head of Compliance & AML.

GFH Financial Group B.S.C. announced that its global asset management arm, GFH Partners Limited, based in the Dubai International Financial Centre, has successfully launched and closed its seventh investment fund focused on logistics and industrial assets in the United States. This investment is expected to positively impact the Group’s financial statements and increase returns. For more details, refer to the attached release. The announcement was made by Mariam Jowhary, Head of Compliance & AML.

GFH Financial Group B.S.C. announced on July 4, 2024, that it has sold 191,629,692 treasury shares, representing 5% of its total issued shares, to Mr. Ahmad Bin Mohammad Al Qassimi. Following this sale, the total number of treasury shares held by the group is 58,800,890, representing 1.53% of the total shares. The announcement was made by Mariam Jowhary, Head of Compliance & AML.