Al Salam Bank B.S.C

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.

Al Salam Bank has introduced a new digital service that allows clients to apply for credit cards based on their monthly salary through the bank's mobile app. This service eliminates the need for branch visits or physical document submissions. It offers instant approval after virtual income verification, aiming to provide a faster and fully integrated digital banking experience. This initiative is part of the bank's efforts to enhance its digital platforms and streamline banking operations, reflecting a strategic shift towards full digitalization. The service is designed for ease of use and quick processing, reinforcing the bank's dedication to delivering superior banking experiences without traditional processes. For more details, clients can visit the bank's website, contact via WhatsApp, or use the Skiplino app to book a virtual branch appointment.

Al Salam Bank has introduced a promotional campaign for Visa credit and prepaid cardholders, running from May 4 to June 30, 2025. The campaign aims to boost card usage by offering cash prizes to over 100 winners, with a top prize of BHD 2,000. Winners will be determined based on their spending during the campaign period, with higher spending increasing the chances of winning. Prizes start at BHD 50, and participants must spend at least BHD 200 to qualify. The campaign also offers benefits such as competitive foreign exchange rates and no international transaction fees for Multi-Currency Prepaid Card users making transactions in the same card currency. For more details, customers can visit the bank's website or contact them through various channels.