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News

13 August 2023 11:23 AM GFH unveils growth in H1-23 financial results

Mubasher: GFH Financial Group posted 29.50% higher net profits attributable to the owners at $54.61 million in the first half (H1) of 2023, versus $42.18 million in H1-22, according to the consolidated interim statements. Basic and diluted …

Financial Results

2 August 2023 04:10 PM Amlak International logs SAR 17.5m profits in H1-23

Riyadh – Mubasher: The net profits of Amlak International Finance Company reached SAR 17.35 million during the first half (H1) of 2023, marking a 68.84% year-on-year (YoY) drop from SAR 55.68 million. Earnings per share (EPS) amounted to SAR 0.19 …

Financial Results

26 July 2023 09:52 AM Alinma Bank’s net profits up 25.5% in H1-23

Riyadh – Mubasher: Alinma Bank registered SAR 2.19 billion in net profit during the first half (H1) of 2023, an annual surge of 25.44% from SAR 1.74 billion. The lender posted a 36.43% hike in clients’ deposits to SAR 177.87 billion during the …

Financial Results

19 June 2023 01:01 PM GFH launches new unit to foster global portfolio

Mubasher: GFH Financial Group has launched a fully-owned subsidiary called GFH Partners Ltd in line with its expansion plans to scale up its global portfolio and real estate assets management, according to a press release. The new entity is mainly …

Companies Investments

7 June 2023 11:24 AM Fitch affirms GFH's rating at 'B'; outlook stable

Mubasher: Fitch Ratings affirmed its ‘B’ long- and short-term issuer default ratings (IDR) for GFH Financial Group, with a stable outlook on the long-term IDR. Fitch also maintained the senior unsecured long-term rating of the $500 million sukuk …

Ratings

25 May 2023 05:20 PM AAN Digital delists from UAE stock exchange

Mubasher: The Kuwaiti AAN Digital Services Holding Company announced the delisting of its shares from Dubai Financial Market (DFM) upon the Kuwaiti Capital Markets Authority (CMA) resolution to delist from Boursa Kuwait. Delisting AAN Digital’s …

Markets Regulations

11 May 2023 05:23 PM GFH’s profits to owners jump 25.5% in Q1-23

Mubasher: The net profits attributable to shareholders of GFH Financial Group were valued at $24.01 million in the first quarter (Q1) of 2023, up 25.60% from $19.12 million in Q1-22. The higher net profits were backed by growth across the group’s …

Financial Results

4 May 2023 05:08 PM Amlak International posts 59% drop in Q1-23 net profits

Riyadh – Mubasher: Amlak International Finance Company logged net profits amounting to SAR 11.03 million in the first quarter (Q1) of 2023. The reported net profits were lower by 59.30% year-on-year (YoY) than SAR 27.12 million, according to the …

Real estate

27 March 2023 01:24 PM GFH to pay 6% cash dividends for 2022

Mubasher: The annual general meeting (AGM) of GFH Financial Group (GFH) agreed to distribute a cash dividend of $0.01 (AED 0.05) per share for 2022, excluding treasury shares. Meanwhile, the dividends account for 6% of the share nominal value, …

General Assembly

19 March 2023 03:18 PM Amlak International's board mulls 8% of capital as 2022 dividends

Riyadh – Mubasher: The board of Amlak International Finance Company proposed cash dividends worth SAR 72.48 million, equivalent to 8% of its capital, for 2022. The Tadawul-listed firm would pay out a dividend of SAR 0.80 per share for 90.60 …

Real estate

15 March 2023 03:27 PM Hassan Allam Utilities joins Kuwait’s Agility for world-class logistics parks in Egypt

Cairo – Mubasher: Hassan Allam Utilities has teamed up with the Kuwaiti Agility Public Warehousing Company to form Yanmu as a joint venture (JV) that will allow the development, construction, and operation of modern logistics parks and Grade A …

Companies Investments

28 February 2023 04:36 PM Amlak International records 10% lower net profits in 2022

Riyadh – Mubasher: Amlak International Finance Company generated net profits worth SAR 96.72 million in 2022, down 10.24% year-on-year (YoY) from SAR 107.75 million. Earnings per share (EPS) stood at SAR 1.07 last year, lower than SAR 1.19 in …

Real estate

13 February 2023 10:28 AM GFH records higher profits to equityholders in 2022; dividends proposed

Mubasher: GFH Financial Group achieved net profits attributable to the shareholders worth $90.25 million in 2022, an annual growth of 7.20% from $84.22 million. Total income jumped by 10.80% to $441.67 million during the January-December 2022 …

Board of Directors

15 January 2023 05:57 PM GFH’s Infracorp rolls out 1st co-investment in EU infrastructure sector

Mubasher: Infracorp, a sustainable infrastructure platform launched by GFH Financial Group, has teamed up with UK-based Equitix to invest in Aurora Infrastructure Oy, a Finnish electricity network. Through the partnership, Infracorp plans to …

Companies Investments

9 January 2023 05:59 PM Agility secures new facility deal worth KWD 50m

Mubasher: Agility Public Warehousing, listed on Dubai Financial Market (DFM) as well, has signed a new credit facility agreement with a local bank at a value of KWD 50 million. Meanwhile, the company has secured nearly $3 billion (KWD 915 million) …

Companies Investments

5 January 2023 03:07 PM GFH concludes acquisition of majority stake in Big Sky

Mubasher: GFH Financial Group has acquired a majority shareholding in Big Sky Asset Management, a US-headquartered real estate asset manager focused on the healthcare sector, according to a press release. The transaction further expands GFH’s …

Companies Investments

28 December 2022 00:58 PM S&P upgrades GFH’s ratings to ‘B’; outlook stable

Mubasher: S&P Global Ratings has upgraded the long-term issuer credit rating of GFH Financial Group to ‘B’ from ‘B-’, with a stable outlook, according to a press release. The agency also advanced the credit ratings on the Sukuk issued by GFH Sukuk …

Ratings

10 November 2022 04:51 PM GFH’s profits to owners exceed $66m in 9M-22

Mubasher: The net profits attributable to the equityholders of GFH Financial Group rose by 9.80% to $66.23 million in the first nine months (9M) of 2022, compared to $60.34 million in 9M-21. The total income amounted to $293.87 million in 9M-22, …

Financial Results

7 November 2022 10:08 AM Agility invests SAR 611m to build Jeddah Logistics Park in Saudi Arabia

Riyadh – Mubasher: Agility will build a large logistics park for storage and distribution near Jeddah as part of a land-concession agreement announced by Saudi Arabia’s State Properties General Administration (SPGA).  The project at Jeddah- Al …

Real estate

12 October 2022 01:00 AM Region’s cross-listed GFH acquires additional medical portfolio for $400m

Mubasher: GFH Financial Group, listed on four stock markets in the GCC, has acquired a second medical clinics portfolio in the US for $400 million. The income-yielding portfolio consists of 11 geographically diversified assets located across four …

Companies Investments

5 October 2022 05:15 PM Agility unveils $20m investment in Loop Global

Mubasher: Agility Public Warehousing, listed on Dubai Financial Market (DFM) as well, has invested $20 million (KWD 6 million) in Loop Globe, an electric vehicle (EV) charging infrastructure firm, according to a bourse disclosure on Boursa Kuwait. …

Companies Investments

14 August 2022 05:55 PM GFH sees 14% higher profits to shareholders at $42m in H1-22

Mubasher: GFH Financial Group has logged net profits attributable to the shareholders worth $42.18 million during the first half (H1) of 2022, up 13.90% year-on-year (YoY) from $37.04 million. The earnings per share (EPS) stood at $1.22 in the …

Financial Results

1 August 2022 09:20 AM GFH's unit pens JV deal worth EUR 400m

Mubasher: Roebuck Asset Management, a UK-based subsidiary of GFH Financial Group, has signed a joint venture (JV) agreement with ICG Real Estate for urban logistics, which is the last mile portfolio across Spain. The EUR 400 million deal comes in …

International Agreements

25 July 2022 05:56 PM Agility raises credit facility lines to $3.2bn

Mubasher: Agility Public Warehousing, listed on Dubai Financial Market (DFM) as well, has penned a financing deal with local, regional, and international banks to refinance and increase its credit facility lines to $3.20 billion (KWD 980 million) …

Banking and Finance

18 July 2022 04:49 PM NREC's unit inks EGP 854m loan with Egypt-based bank

Mubasher: Kuwait Wadi Elnile Urban Development, an 80% subsidiary of National Real Estate Company (NREC), has signed a loan agreement worth EGP 854 million (KWD 13.91 million) with a national bank in Egypt. The company will use the facility in …

Banking and Finance