13 October 2015
Manama, Bahrain - International Investment Bank (IIB) announced the disposal of a Boeing 777-300 ER aircraft, resulting in over 30% IRR for the Bank.  The aircraft, which was purchased by IIB in a sale and leaseback transaction earlier this year, is on lease to a leading regional airline on a non-cancellable basis for a period of nine years, and has recently been sold to an international buyer.

Commenting on the announcement, IIB Chief Executive Officer, Subhi Benkhadra said: "We are very pleased to announce this successful exit and the positive contribution it will make to the Bank's performance during the second half of 2015. There is currently a strong appetite in the market for high yielding assets with good credit ratings, which explains the interest this investment has received from investors. This exit was an easy decision for IIB to make because it offered much higher returns than we anticipated when we entered into the sale and leaseback transaction earlier this year, in addition to boosting the Bank's liquidity position. IIB is currently exploring other attractive deals in the aviation market."

-Ends-

About International Investment Bank
International Investment Bank B.S.C. (c) (IIB) was incorporated in Bahrain in October 2003 as an Islamic investment bank, with an authorized capital of US$ 200 million and a paid up capital of US$ 43 million. In December 2007, IIB concluded a combined rights issue and private placement offering that has increased the issued share capital to US$ 110 million. Total shareholders' equity at 31 December 2014 stood at US$ 160.2 million. The Bank's shareholders are high net worth individuals, business houses and institutions from the GCC states. The Bank undertakes two core business activities - private equity and real estate - and aims to offer its clients an internationally diversified range of investments generated through its network of strategic partnerships, which it intensively manages on behalf of investors in order to maximise the yields at the time of exit. It has been involved in investments worth almost US$ 3.0 billion since its inception.

For more information on IIB, please visit: www.iib-bahrain.com

Media Contact:
Sari Mabire
Group Account Director
Hill+Knowlton Strategies Bahrain
Tel: (+973) 1753 3532
Fax: (+973) 1753 3370
sari.mabire@hkstrategies.com

© Press Release 2015