Bahrain-based Islamic investment bank, GFH Financial Group (GFH) has secured the Middle East and Africa region’s best Islamic investment bank title, at the MEA Finance Awards.
The bank also secured two other prestigious awards at the event, including Best Sukuk Deal of the Year and Best Investment Bank-Islamic. Commenting on the achievement, the management team of GFH applauded the group’s efforts over the last two years.
The MEA Finance Awards recognize financial institutions and industry individuals for their exceptional achievement and inspirational leadership in delivering innovative products and services of the highest value to their customers.
The bank was recognized for its landmark $300 million Sukuk, which was listed on the region’s global exchange during the pandemic year. The Sukuk marked GFH’s entry into the international debt capital markets. The capital raised supports the expansion of GFH’s activities, enhancing the financial position of the group and funding its next phase of growth.
“The region’s financial institutions have shown remarkable resilience in the face of an unprecedented challenge. GFH in particular has demonstrated the robustness of its model and proven its strategy for focusing on defensive sectors. We are immensely proud of the work we have done across the group to ensure we have continued to deliver growth and value creation for stakeholders in the midst of a global pandemic.”
In the first nine months of 2021, GFH generated a net profit attributable to shareholders of $60.34 million, a 160 percent increase on the same period in 2020. In October, GFH’s outlook was upgraded to Stable by Capital Intelligence Ratings.
At the previous MEA Finance Awards in 2020, GFH picked up three accolades, including Banker of the Year, Best Investment Management Firm in Bahrain and Best Private Bank.