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

GFH Financial Group has announced that its global asset management division, GFH Partners Limited, based in the Dubai International Financial Centre, has successfully acquired A-Class student housing assets worth $300 million in the United States. This investment is expected to positively impact the Group's financial performance and increase its returns.

GFH Financial Group B.S.C. (GFH) and Ithmaar Holding B.S.C. (Ithmaar) have announced to their shareholders that discussions are ongoing regarding GFH's acquisition of Ithmaar's financing and investment portfolios. These negotiations are subject to regulatory approvals. Shareholders will be regularly updated on any further developments. The expected financial impact will be disclosed in due course. Previous announcements related to these discussions were made on several dates throughout 2024. The announcement was signed by Mariam Jowhary, Head of Compliance and AML.

GFH Financial Group B.S.C. announced that it has entered into definitive agreements with the Saudi Education Fund, managed by EFG Hermes, for the acquisition of Britus Education. Britus Education is a leading K-12 education platform operating international schools in the GCC and MENA regions, with a market value exceeding USD 200 million. The portfolio consists of four schools in Saudi Arabia, two in the UAE, and one in Bahrain, with a total capacity of about 12,000 students and nearly 8,000 currently enrolled. This investment is expected to have a positive impact on GFH's financials and increase the group's returns. The announcement was made by Mariam Jowhary, Head of Compliance & AML.

GFH Financial Group B.S.C. announced the successful completion of their third-quarter 2024 financial results webcast. The session was held online on November 13, 2024, at 1:00 p.m. Bahrain time. The announcement follows a previous notification to shareholders and investors on November 7, 2024. The presentation and script from the webcast are attached. The announcement was made by Mariam Jowhary, Head of Compliance & AML.

GFH Financial Group BSC is registered as an Islamic wholesale bank with the Central Bank of Bahrain under commercial registration number 44136. Its registered office is located on the 2nd Floor of Harbor House, Building Number 1436, Block 346, Road 4626, in Manama, Kingdom of Bahrain. The contact telephone number is +973 17538538. The board of directors includes Abdulmohsen Rashed Alrashed as Chairman (from March 2024), Ghazi Faisal Ebrahim Alhajeri as Vice Chairman, and several other members, with some changes effective from March 2024. Hisham Ahmed Alrayes serves as the Chief Executive Officer. The auditors are KPMG Fakhro. The financial information provided is as of 30 September 2024.

GFH reported a net profit of $87.95 million attributable to shareholders for the first nine months of 2024, marking an 11.4% increase compared to the previous year. The total income for the same period was $486.49 million, up 42.9% year-on-year. For the third quarter of 2024, the company earned $154.26 million in total income, with a net profit of $27.20 million, reflecting year-on-year increases of 24.2% and 11.9%, respectively. Key activities included co-investments in a US renewable energy platform and a European maritime ship leasing platform, acquisitions in industrial cold storage and student housing, and the successful oversubscription of a $500 million Sukuk program. Additionally, GFH participated in the Future Investment Initiative in Riyadh and launched an AI-powered mobile app. The company also partnered with Edamah to develop the first surf park in the Middle East and North Africa region.

GFH Financial Group B.S.C. announced that its Board of Directors held a meeting on Tuesday, November 12, 2024, at 2:00 pm Bahrain time. During the meeting, they discussed and approved the financial results for the third quarter of 2024, ending on September 30, 2024, along with other internal matters. The financial results for the third quarter of 2024 are attached. The announcement was made by Mariam Jowhary, the Head of Compliance & AML.

GFH Financial Group B.S.C. announced their market making activities for October 2024, in compliance with the Central Bank of Bahrain's requirements. The activities were carried out by liquidity providers SICO on the Bahrain Bourse and BHM Capital on the Dubai Financial Market and Abu Dhabi Securities Exchange. As of October 31, 2024, GFH held 207,500,896 treasury shares, accounting for 5.4% of the group's total outstanding shares. During October, SICO purchased 371,469 securities and sold 1,030,750 securities on the Bahrain Bourse, with total payments amounting to USD 124,831 and total receipts of USD 345,215.

GFH Financial Group B.S.C. announced its market-making activities for October 2024, in compliance with the Central Bank of Bahrain's requirements for monthly disclosures by listed companies. The announcement details the transactions conducted by GFH's liquidity providers: SICO on the Bahrain Bourse and BHM Capital on the Dubai Financial Market and Abu Dhabi Securities Exchange. As of October 31, 2024, GFH held 207,500,896 treasury shares, representing 5.4% of the group's total outstanding shares. During the month, SICO purchased 371,469 securities and sold 1,030,750 securities on the Bahrain Bourse, with total payments of USD 124,831 and total receipts of USD 345,215.

GFH Financial Group B.S.C. has announced a webcast for its third-quarter financial results for 2024, covering the period ending on September 30, 2024. The webcast is scheduled for Wednesday, November 13, 2024, at 01:00 pm Bahrain time. Shareholders and investors are invited to follow the broadcast. The announcement was made by Mariam Jowhary, Head of Compliance & AML, and is officially sealed by the company.