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 54.7Â 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 25.8Â 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 79.76Â 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. Â
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.