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GFH Financial Group Q2 net profit $30m

GFH Financial Group reports a net profit of $30.61m.
  • Total income for the second quarter of 2023 was $86.83 million compared to $56.11 million for the second quarter of 2022, a rise of 54.7 percent.
  • Consolidated net profit for the second quarter was $32.75 million compared with $26.03 million in the second quarter of 2022, an increase of 25.8 percent.

Dubai, UAE — Bahrain-based GFH Financial Group has reported net profit of $30.61 million for the second quarter of the year, up 32.74. percent compared with $23.06 million for Q2, 2023.

Major contributions included income generated from the placement of the Group’s global and regional investments, commercial banking business and treasury activities, the Group said in a statement.

Total income for the second quarter of 2023 was $86.83 million compared to $56.11 million for the second quarter of 2022, a rise of 54.7 percent.

Consolidated net profit for the second quarter was $32.75 million compared with $26.03 million in the second quarter of 2022, an increase of 25.8 percent.

Total expenses for the second quarter were $54.08 million compared to $30.08 million in the comparative quarter of 2022, an increase of 79.76 percent.

Total equity attributable to shareholders was $973.58 million on 30 June 2023, down 2.3 percent from $996.60 million on 31 December 2022.  

GFH Financial Group is a leading financial group based in the Kingdom of Bahrain. They are licensed as an Islamic wholesale bank by the Central Bank of Bahrain. GFH has a diversified portfolio of businesses, including investment banking, asset management, real estate development, and tourism.