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Bank of Bahrain and Kuwait chips in BD5,000 to local welfare society

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Bank of Bahrain and Kuwait chips in BD5,000 to local welfare society

In line with BBK’s strategic initiatives for a brighter community, Jamal Hijris, general manager of support group, welcomed the representatives from the children and mother welfare society to receive BBK’s contributions of BD 5,000 at bank’s headquarters recently.

Published: Wed 20 Aug 2014, 8:46 PM

Updated: Sat 4 Apr 2015, 4:59 AM

  • By
  • Suad Hamada (Bahrain Roundup)

The society is dedicated to the wellbeing of children and mothers.

As one of the major financial institutions in the kingdom, BBK has been regularly supporting various humanitarian causes and societies throughout the years which include major sporting clubs, charity funds and social societies.

Winners of Al Waffer draw announced

Khaleeji Commercial Bank (KHCB) has announced the winners of the Al Waffer raffle draw for the month of July in a ceremony held recently at KHCB headquarters in the Bahrain Financial Harbour.

The ceremony was attended by members from the bank’s management and staff under the supervision of the Ministry of Commerce and Trade. Salem Abdulla was declared the winner of the grand draw and was presented keys of a brand new BMW 520 car.

Also, Hana Rajab, Abdulla Saood and Huda Yusuf each received $10,000, $5,000 and $3,000 respectively.

$750m term loan facility for ABC

Arab Banking Corporation (ABC) has announced the successful closing of a $750 million syndicated term loan facility.

The initial mandated lead arrangers and bookrunners are HSBC Bank Middle East Limited, National Bank of Abu Dhabi PJSC, Natixis and Sumitomo Mitsui Banking Corporation.

National Bank of Abu Dhabi is the facility agent and HSBC acted as the coordinating bank.

The three year facility will be used for general corporate funding purposes and carries a margin of 120 basis points over Libor.

Syndication was launched in an initial amount of $500,000,000 and closed significantly oversubscribed.

GFH reports $10.6 million net profit

Gulf Finance House (GFH), the Bahrain based Islamic investment bank, has announced its financial results for the first half of 2014 reporting solid performance and improved profitability.

GFH reported a net profit of $10.6 million compared with $4.2 million for the prior year period.

The bank’s consolidated profits rose by 152 per cent.

Net profit for the second quarter of 2014 was $9.5 million as against $2.7 million achieved in the second quarter of the previous year.



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