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 …
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…
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 …
<p>Standard & Poor’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&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&P's view that ABG’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-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 $…
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…
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forward fund the development of the £6.7 million 53-bed care homes in Gerrards Cross, Buckinghamshire (west of London). The second transaction builds on the Platform’s existing strategic relation with McLaren Properties by arranging the acquisition of...
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…
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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