Posts tagged as: Bahrain

Ithmaar Bank operating income stable at BD37m

Ithmaar Bank operating income stable at BD37m

Operating income continues to be stable at Ithmaar Bank at BD36.8 million, despite a significant compression of margins in overseas subsidiary due to a 300 basis points cut in benchmark profit rates. However, a net loss of BD2.8m was announced for the …

Seera’s net income reaches $5.1 million

Seera’s net income reaches $5.1 million

Bahrain-based Seera Investment Bank has reported a net income of $5.1 million for the first half of this year compared with a net income of $1.7m for the same period last year. Total income was $8.5m compared with $4.6m last time. The increase in incom…

S&P downgrades Bahrain's Al Baraka Bank to junk status

S&P downgrades Bahrain's Al Baraka Bank to junk status

Standard & Poor's reduced Al Baraka's rating from BBB- to BB+ with a negative outlook on the back of increased sovereign and economic risk in the regions where it operates, particularly Egypt and Jordan. Operating environment and credit conditions …

Bahrain-based Al Baraka Banking Group lowered to ‚BB+/B‘ on high MENA sovereign and economic risks

Bahrain-based Al Baraka Banking Group lowered to ‚BB+/B‘ on high MENA sovereign and economic risks

<p>Standard &amp; Poor&rsquo;s Ratings Services has lowered its long- and short-term counterparty credit ratings on Bahrain-based Al Baraka Banking Group (ABG) to 'BB+/B' from 'BBB-/A-3'. The outlook is negative. The rating action follows S&amp;P's review of the wider implications of deteriorated sovereign creditworthiness in the past 12 months in some countries in the Middle East and North Africa (MENA) , where ABG operates, especially Egypt and Jordan. The ratings agency lowered its assessment of ABG's risk position to "adequate" from "strong," owing to its operations in high-risk MENA countries. The ratings remain supported by ABG's strong business position, and its average funding and adequate liquidity position. The negative outlook reflects S&amp;P's view that ABG&rsquo;s capitalization could deteriorate to levels deemed as weak if, for instance, Egypt defaults and further economic stress materializes in Jordan.</p>
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Bahrain's GFH sees H1 profits fall despite cost cutting

Bahrain's GFH sees H1 profits fall despite cost cutting

Bahrain-based Gulf Finance House has announced a net profit of $4.2m for the half year of 2013. Net profit fell compared to $5.7m in the corresponding half year period in 2012 despite a drive to reduce costs. Second quarter net profit also dropped to $…

Banader Hotels signs $47 mn deal with KFH Bahrain

Banader Hotels signs $47 mn deal with KFH Bahrain

Bahrain-based Banader Hotels Co, has signed a BD 18 million (US $47 mn) project finance deal with Kuwait Finance House, Bahrain to raise funds to complete construction of the Banader Rotana Hotel in Manama. Work on the 28-storey hotel and furnished apa…

Bahrain Islamic Bank realizes net profit for Q2-2013

Bahrain Islamic Bank realizes net profit for Q2-2013

Mr. Abdul Razak Abdulla Al-Qassim – Chairman of the Board of Directors announced that the Board has approved the Financial Statements for the period ended on 30th June 2013. The Bank registered BD2.4m as net profit for the first half of the year after …

Bahrain’s Tadhamon Capital acquires two UK assets worth US$50 million

Bahrain’s Tadhamon Capital acquires two UK assets worth US$50 million

best antivirus software for windows 7 p>The Bahrain-based investment firm Tadhamon Capital acquired two assets within its prevalent Social Infrastructure Platform in the United Kingdom in the second quarter of 2013. The two transactions are valued at approximately £32 million (US$50 million) which brings the total value of the assets held under the Platform to […]

Bahrain’s GFC formulates new business model

Bahrain’s GFC formulates new business model

The Gulf Finance House of Bahrain said that it is hoping to receive more active investments to salvage the investment firm's falling figures. A new business model was proposed which consists of new strategy calls such as better involvement with the inv…

Bahrain Islamic Bank convenes its AGM and elects new board

Bahrain Islamic Bank convenes its AGM and elects new board

An Ordinary Shareholder Assembly of Bahrain Islamic Bank (BisB) was held on Sunday 7th July 2013 with the objective of electing a new Board. The result was the election of four new members to the Board in addition to the five members who are appointed….

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