GFH’s first-quarter net revenue rises 18.5%

On the heels of solid success in its investment banking business, Bahrain-based GFH Financial Group announced an 18.5 percent increase in first-quarter net profit.

The bank’s net profit attributable to shareholders for the first three months ending March was $19.11 million, according to a statement sent on Thursday to the Dubai Financial Market, where its shares are listed.

According to the business, the increase is due to “several key deals within the group’s investment banking activities” Total revenue increased by 0.47 percent to $90.81 million in the first quarter. For the quarter, earnings per share were $0.54, up from $0.52 in the first quarter of 2021.

“In the first quarter of 2022, we continued to grow according to the business plan, moving ahead with executing our robust pipeline of opportunities,” said Hisham Alrayes, chief executive of GFH.