Press releases, Reports & Disclosures for Al Salam Bank B.S.C

Bank Al Salam in Bahrain achieved an unprecedented milestone by winning five awards from Visa within a single year. This accomplishment highlights the bank's commitment to innovative, customer-focused banking solutions and its leadership in adopting advanced technologies for a comprehensive banking experience. The awards recognize the bank's excellence in various performance categories, including growth in payment volume, digital spending, active cards, and both domestic and international spending. The awards include: 1. Highest growth rate in payment volume for 2024 in Bahrain. 2. Highest growth rate in active cards for 2024 in Bahrain. 3. Highest growth rate in spending for 2024 in Bahrain. 4. Highest growth rate in cross-border spending for 2024 in Bahrain. 5. Highest growth rate in digital spending for 2024 in Bahrain. Anwar Murad, Deputy CEO of Banking Services at Bank Al Salam, expressed pride in this achievement, emphasizing the bank's dedication to innovation and enhancing digital payment experiences. He noted that winning five awards in one year reflects the bank's market trust and the quality of its banking products and services. The success is attributed to the bank's strategy focusing on digital transformation, operational efficiency, and offering data-driven smart banking experiences. Ali Bailoun, Visa's Regional General Manager for Saudi Arabia, Bahrain, and Oman, praised Bank Al Salam's exceptional performance and its commitment to excellence in digital payments. He emphasized the bank's unique ability to stimulate usage, expand card bases, and enhance reliance on digital payments. The success results from a clear strategy and dedicated executive team, reinforcing the fruitful partnership between Visa and Bank Al Salam. For more information about Bank Al Salam's products and services, visit their website or contact them via WhatsApp.

Al Salam Bank has launched a comprehensive auto financing package in collaboration with BYD, a leader in New Energy Vehicle manufacturing. This offer, available until December 31, 2025, provides financing for BYD vehicles powered by renewable energy. The package includes benefits such as special pricing for all models, a three-year service package, one-year registration fees, an eight-year or 200,000-kilometer battery warranty, a six-year or 150,000-kilometer vehicle warranty, and multi-year insurance coverage for three years. Monthly installments start from BD83, with terms and conditions applying. Al Salam Bank aims to provide a seamless financing experience by covering major vehicle ownership costs for the initial years. The collaboration is supported by Fakhro Motors, the exclusive distributor of BYD in Bahrain, highlighting a shared commitment to offering integrated solutions for sustainable mobility.

Al Salam Bank announced the successful completion of its USD 450 million Additional Tier 1 (AT1) Capital issuance, indicating strong investor confidence in the bank's financial health and long-term growth strategy. The issuance, structured as a private placement and advised by ASB Capital, attracted significant demand from both regional and international investors. This initiative is part of the bank's broader financial optimization strategy to enhance its capital position and support future growth plans. The issuance underscores the bank's commitment to sustainable growth and financial resilience, positioning it as a leading financial group in the region. ASB Capital, which advised on the issuance, provides tailored financing solutions and was recently involved in a USD 1 billion Sukuk issuance for Bapco Energies. Rafik Nayed, Group CEO of Al Salam Bank, highlighted the issuance as a testament to the bank's financial stability and strategic direction, noting a consistent increase in equity since 2020. He emphasized ASB Capital's ability to attract investor demand despite global market volatility, showcasing the firm's expertise in capital markets.

ONE App, powered by Al Salam Bank, has launched a new digital personal finance service in Bahrain, allowing employees to apply for financing of up to BD 40,000 with a repayment period of up to seven years and an APR starting at 4.99%. The service requires salary assignment and offers a fully digital application process with instant approval, eliminating the need to visit a branch. This initiative aims to enhance user experience by providing flexible and efficient financing options. ONE App is committed to delivering innovative banking solutions that cater to the digital generation, focusing on digital financial inclusion and user-friendly services.

Al Salam Bank in Bahrain has introduced dedicated ATMs for Eid Al Adha, allowing customers to withdraw new banknotes in smaller denominations at three major shopping malls: Marassi Galleria, City Centre Bahrain, and The Avenues Mall. This initiative, available from June 3 to June 5, 2025, is in response to client demand and aims to enhance banking accessibility and convenience during the festive season. The ATMs help reduce in-branch traffic and are part of the bank's strategy to expand digital and self-service capabilities. Mr. Mohammed Buhijji, Head of Retail Banking, stated that this initiative supports the bank's mission to provide efficient and accessible services during important occasions. For more details, customers can visit the bank's website, contact via WhatsApp, or use the Skiplino app for appointments.

Al Salam Bank, Bahrain's largest Islamic bank, sold its 15.6% stake in Seef Properties to GFH as part of a broader strategy to focus on core banking operations and strategic holdings in banking, takaful, and asset management. ASB Capital, the bank's asset management arm, facilitated the sale. This move aligns with Al Salam Bank's goal to exit non-strategic holdings and reallocate resources to areas offering long-term value. Despite global market challenges, ASB Capital demonstrated strong transaction advisory capabilities, positioning itself to leverage increasing regional deal activity.

Al Salam Bank announced its financial results for the first quarter of 2025, reporting a net profit attributable to shareholders of BD 18.6 million (US$ 49.3 million), a 32.7% increase from the previous year. The growth was driven by strong performance in core banking operations and subsidiaries. Earnings per share rose to 6.1 fils (US cents 16.2), and total comprehensive income increased by 3.1% to BD 27.0 million (US$ 71.7 million). The Bank's gross income grew by 36% to BD 105.6 million (US$ 280.2 million). Shareholders' equity rose by 8.3% to BD 390.2 million (US$ 1.04 billion), and total assets increased by 4.5% to BD 7.38 billion (US$ 19.58 billion). Financing assets and customer deposits also saw growth, with the Bank maintaining a capital adequacy ratio of 24.8%. The Bank's leadership highlighted the focus on digital initiatives, customer experience, regional expansion, and operational optimization. The financial statements were reviewed by KPMG and are available on the Bahrain Bourse’s website.