Dubai – Mubasher: GFH Financial Group on Sunday announced reaching an agreement involving the settlement of one of its legal claims.

Under the settlement, the Bahrain-based financial group will receive a cash amount of $22.5 million.

This sum, which will be reflected in the group’s financial results for the second quarter of 2018, will have a positive impact on GFH, the company said in a filing to the Dubai Financial Market (DFM).

“Due to confidentiality clauses of the settlement, no further details can be shared,” the group said.

Earlier this month, GFH announced achieving a profit growth, attributable to shareholders, of 14% year-on-year to $36.48 million in the first three months of 2018.