NBB reports 34% jump in Q2 net profit
In a statement, NBB said that the increase in net profit is mainly due to strong business fundamentals reflected through higher net interest income attributable to higher loan volumes across all the group’s key segments and higher other income from the treasury and capital markets activities. The 2022 results have also benefitted from lower […]
HH Shaikh Nasser bin Hamad congratulated by NAO President
President of the National Financial and Administrative Audit Office (NAO), Shaikh Ahmed bin Mohammed Al Khalifa congratulated HM the King’s Representative for Humanitarian Work and Youth Affairs, Supreme Council for Youth and Sports Chairman and Royal Endurance Team Captain, HH Shaikh Nasser bin Hamad Al Khalifa, on clinching first place in the 160-km race in […]
Gulf International Bank issues inaugural sustainability report
Gulf International Bank (GIB) has published its first groupwide Sustainability Report which shows its commitment to sustainable growth and performance against environmental, social and governance indicators. The Report provides an overview of GIB’s strategic approach to sustainability and the Bank’s direct activities and initiatives and discloses them in accordance with the Global Reporting Initiative (GRI) […]
Bahrain’s GFH Financial Q1 net profit rises 18%
Bahrain-based GFH Financial Group has reported net profit of $19.11 million for Q1 2022, up more than 18 percent from $16.12 million reported in the first quarter of 2021. The group, which has businesses including wealth management, real estate, commercial banking and asset management, said in a statement that earnings per share for Q1 were […]
Bahrain-based Bank ABC Q1 net profit rises 3% to $31mln
based Bank ABC (Arab Banking Corporation) has posted a $31 million Q1 net profit attributable to the shareholders of the parent company, which is 3% higher on the $30 million of the same period last year. With cost of risk returning to pre-pandemic levels, it suggests a better economic outlook and the resilience of the […]
Aluminium Bahrain refinances $1.247bln loan with sustainability targets
Aluminium Bahrain (Alba), the world’s largest smelter ex-China, has successfully achieved sustainability-linked refinancing for its $1.247bln syndicated loan facility in connection to the Line 6 Expansion Project. Alba is the first Bahraini company to have achieved such sustainability-linked refinancing. The senior-unsecured conventional and Islamic facility carries an interest margin of 235 basis points per annum over […]
Moody’s upgrades outlook for Bahrain’s banking system
Bahrain banks’ profitability will return to pre-pandemic levels over the next 12 to 18 months, forecasts Moody’s Investors Service, noting that resilient funding, liquidity and capital positions are back after the coronavirus economic shock. In reports issued yesterday, the US-based ratings agency has changed the outlook for the banking systems of Bahrain, Saudi Arabia, Kuwait, […]
HRH the Crown Prince and Prime Minister meets the Founder and CEO of Binance
His Royal Highness Prince Salman bin Hamad Al Khalifa, the Crown Prince and Prime Minister, today met with the Founder and Chief Executive Officer of Binance, Chanpeng Zhao, at Riffa Palace. His Royal Highness highlighted that the Kingdom’s financial services and digital technology sector continues to develop and has created quality opportunities for Bahraini citizens. […]
GFH launches “Prime” programme to reward top shareholders
GFH Financial Group today announced a new shareholder loyalty programme “Prime”, which provides rewards and incentives for loyal shareholders. GFH Prime provides shareholders with exclusive benefits based on four tiers, including Member, Silver, Gold, and Platinum. Benefits include up to 2% rebate on all new investments in GFH projects, up to 15% discount on the […]
Cashless transactions increase by 45% in Bahrain
Cashless transactions in Bahrain jumped 45 per cent to BD341.6 million last month when compared with the same month of 2021, reveals data from the Central Bank of Bahrain (CBB). There were nearly 14m point-of-sale (PoS) and e-commerce transactions in Bahrain last month, 73.6pc of them contactless, the banking regulator said. The figures reflect the […]
