GFH income surpasses 24per cent, net profit up 14per cent in 2023

GFH income surpasses 24per cent, net profit up 14per cent in 2023

Manama: Mahmood Rafique, Editor: GFH Financial Group B.S.C (GFH) has reported a net profit of $102.86million for the year 2023, an increase of 13.97 per cent over the previous year. The Group has reported a surge in income of 24.1 per cent in the year 2023. The Group has yielded a double-digit growth in income […]Manama: Mahmood Rafique, Editor: GFH Financial Group B.S.C (GFH) has reported a net profit of $102.86million for the year 2023, an increase of 13.97 per cent over the previous year. The Group has reported a surge in income of 24.1 per cent in the year 2023.

The Group has yielded a double-digit growth in income that enhances profitability for 2023, thanks to the robust yield by the subsidiaries, associates, and investments.

The board proposed a total cash dividend of 6.2per cent on par value (US$0.0164 per share) for 2023, subject to the approval by the shareholders’ general assembly.

“We are pleased to announce another year of growth and good performance, growth in income by 24.1% and profits by 14% during 2023. Our results were supported by sound contributions throughout the year from our key lines of business, including – investment banking, commercial banking, treasury and proprietary investments. We