Dubai – Mubasher: GFH Financial Group (GFH) on Wednesday announced that the Central Bank of Bahrain (CBB) approved the repurchase of 7% treasury shares of its total issued shares.
The acquisition will be through the market making arrangement with the Securities & Investment Company (SICO).
The CBB also nodded to extend the current market making arrangement with SICO in the Bahrain Bourse for another six months to end on 28 May 2019, according to a statement to the Dubai Financial Market (DFM).
GFH, which is listed on the DFM, Boursa Kuwait, and the Bahrain Bourse, last reported a rise of 23.3% in profits to $30.94 million during the third quarter of 2018, compared to $25.09 million in the corresponding period a year ago.
The Bahrain-based Islamic wholesale investment bank achieved an increase of 18.6% in net profits during the first nine months of 2018 compared to the prior- year period.
