GFH posts Q1 net profit of US$19.11 million

TDT | Manama  

The Daily Tribune – www.newsofbahrain.com

GFH Financial Group announced its financial results for the first quarter of the year ended 31 March 2022. The Group reported net profit attributable to shareholders of US$19.11 million , up 18.5% from US$16.12 m in the first quarter of 2021.

The growth reflects several key deals within the Group’s investment banking activities. Earnings per share for first quarter of 2022 were US cents 0.54 compared to US cents 0.52 for the first quarter of 2021.

Total income was US$90.81 m compared to US$90.39 m in the first quarter of 2021, an increase of 0.47%. Consolidated net profit was US$19.35 m compared with US$19.34 m in the first quarter of 2021, a marginal increase of 0.04%.

Ghazi Al Hajeri, Chairman of GFH, said: “As the Group continues to focus on Islamic finance and asset management in the ever-changing global financial environment, we look forward to continuing to keep the pace with the opportunities in this field as well as continuing to invest in key markets in the GCC and US.”

Hisham Alrayes, CEO of GFH, said they look forward to “continuing this growth during the year and delivering on shareholder expectations, especially with the upcoming instrument in the Abu Dhabi Securities Exchange.”