In a strategic move that underscores its commitment to optimizing its portfolio and focusing on core markets, Al Salam Bank has announced the sale of its 20.94% stake in Gulf African Bank, Kenya's largest Islamic bank. The decision is part of a broader strategy to streamline operations and enhance growth in key areas.

ASB Capital, the asset and wealth management arm of Al Salam Bank, played a pivotal role in advising and executing this transaction. Licensed by the Dubai Financial Services Authority (DFSA) in 2024, ASB Capital has demonstrated its capabilities in investment banking and transaction advisory, further solidifying its reputation in the financial sector.

Rafik Nayed, Group CEO of Al Salam Bank, expressed pride in the journey of Gulf African Bank, highlighting the importance of the transaction in aligning with Al Salam Bank's strategic objectives. The move is expected to deliver maximum value for all parties involved, allowing Al Salam Bank to concentrate on expanding its operations in its core strategic markets.

Al Salam Bank has reported remarkable financial performance, with a record net profit of USD 203.8 million for the fiscal year ending December 2025, marking a 30.2% increase from the previous year. The bank's total assets grew by 14.0%, reaching USD 21.36 billion, driven by successful growth initiatives.

Given this strategic focus and robust financial performance, investors might consider holding onto their investments in Al Salam Bank. The bank's commitment to optimizing its holdings and expanding its operations in core markets suggests a promising outlook.