Arab Today, arab today gulf finance house net profit surges to 156m
Last Updated : GMT 21:09:51
Arab Today, arab today
Arab Today, arab today

Gulf Finance House net profit surges to $15.6m

Arab Today, arab today

Arab Today, arab today Gulf Finance House net profit surges to $15.6m

Gulf Finance House (GFH)
Manama - BNA

Bahrain-based Islamic investment bank Gulf Finance House (GFH) yesterday reported a net profit of $15.6 million for the first nine months of this year, compared with $1m in the corresponding period last year.
Total income was $121.1m versus $30.5m for first nine months of the previous year.
Investment banking income for the period increased an impressive 75 per cent year-on-year. Results for the third quarter also showed significant improvement with profits of $5m, compared with a net loss of $3.2m in the same period last year.
Total income for the third quarter was up a sharp 532pc reaching $32.9m versus $5.2m in the prior year period. Income during the quarter was primarily generated from placement fees for the bank's investment products as well as from the settlement of liabilities for the bank. Operating expenses for the nine-month period were $95.5m. Investment operations expenses were $35.3m, compared with $27.45m during the first nine months of 2013.
"We are pleased to announce another period of growth profitability and continued progress at the bank," chief executive Hisham Alrayes said. "It underscores that our strategy is working well and that the measures we have taken and investments made are paying off.
The successful placement of the new investments during the quarter demonstrates the investors trust and renewed interest in GFH investment products," he added. "We have just announced an exit from our prime London property investment and subject to conclusion of certain pending requirements, we expect to deliver a 21pc return on investment to our investors in a short nine-month period," he said. "These efforts continue to bolster our financial position and results and will see us end this year on a strong position," he added.

arabstoday
arabstoday

Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

Arab Today, arab today gulf finance house net profit surges to 156m Arab Today, arab today gulf finance house net profit surges to 156m

 



Arab Today, arab today

Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

Arab Today, arab today gulf finance house net profit surges to 156m Arab Today, arab today gulf finance house net profit surges to 156m

 



Arab Today, arab today France defies terrorism through tourism

GMT 15:18 2017 Saturday ,20 May

France defies terrorism through tourism
Arab Today, arab today Zainab Fadel Oglu designs “Shakerin” mosque

GMT 12:13 2017 Thursday ,11 May

Zainab Fadel Oglu designs “Shakerin” mosque
Arab Today, arab today Seeks to move past rift with Israel

GMT 08:00 2017 Monday ,08 May

Seeks to move past rift with Israel
View News in Arabic - Business: اقتصاد عربي
Arab Today, arab today
Arab Today, arab today
Arab Today, arab today Mozambique's gas boom dream under threat

GMT 16:29 2017 Monday ,08 May

Mozambique's gas boom dream under threat
Arab Today, arab today Prepares to give stargazers an eyeful

GMT 13:38 2017 Monday ,06 March

Prepares to give stargazers an eyeful
Arab Today, arab today Jaguar displays XF Sportbrake line

GMT 14:36 2017 Monday ,08 May

Jaguar displays XF Sportbrake line
Arab Today, arab today BMW sees forecasts in reach

GMT 09:04 2017 Thursday ,04 May

BMW sees forecasts in reach
Arab Today, arab today Climate science: Bad news gets worse

GMT 08:48 2017 Saturday ,06 May

Climate science: Bad news gets worse
Arab Today, arab today
Arab Today, arab today
 
 Arab Today Facebook,arab today facebook  Arab Today Twitter,arab today twitter Arab Today Rss,arab today rss  Arab Today Youtube,arab today youtube  Arab Today Youtube,arab today youtube
arabstoday arabstoday arabstoday arabstoday
arabstoday arabstoday arabstoday
arabstoday
بناية النخيل - رأس النبع _ خلف السفارة الفرنسية _بيروت - لبنان
arabstoday, Arabstoday, Arabstoday