Manama: GFH Financial Group (GFH) today announced that S&P Global Ratings has initiated coverage and assigned it with a 'B' long-term issuer credit rating with a stable outlook.

The rating comes in line with the GFH’s success in reshaping its business model in order to become a fully diversified financial group. 

The report looked at the Group’s four distinct business segments that include: Investment Banking, where the agency made note of GFH’s ability to achieve a stable pipeline of deals as well as its focus on undertaking income-generating transactions; Commercial Banking, via its subsidiary Khaleeji Commercial Bank (KHCB); Real Estate Development, where the Group is looking to transform and exit legacy assets, and Treasury and Proprietary Investments, a recently established and growing business line that manages the Group’s liquidity and generates income.

The Group’s financial position was also reviewed with the report considering GFH's capital and earnings as adequate and mentioned its improving ability to generate cash flows. The report further noted that the new Treasury function and some progress in KHCB activities would likely contribute to increasing income and would support the Group's headline margins. Looking at risk, the report underscored the Group’s risk position as moderate and highlighted the geographic diversification of its real estate portfolio.

Commenting, Mr. Hisham Alrayes, CEO of GFH, said, “We’re pleased with the continued recognition from our ratings agencies and the market of the steady progress and ongoing development of our business. Our focus on diversification, income generation and exits from legacy assets has been demonstrated and is now understood by the market. We will continue to execute on our strategy with the aim of even further enhancing our results and delivering greater value to our shareholder and investors in the coming year.”

-Ends-

About GFH Financial Group:

GFH is one of the most recognized financial groups in the gulf region that includes: Asset Management, Wealth Management, Commercial Banking and Real Estate Development. The group operations are focused in the GCC, North Africa and India. GFH is listed in Bahrain Bourse, Kuwait Stock Exchange and Dubai Financial Market.

For further information about GFH, please visit: www.gfh.com 

For more information please contact:
Zahraa Taher
Managing Director
FinMark Communications
Tel: +973 39630997
Email: ztaher@finmarkcoms.com 

© Press Release 2019

Disclaimer: The contents of this press release was provided from an external third party provider. This website is not responsible for, and does not control, such external content. This content is provided on an “as is” and “as available” basis and has not been edited in any way. Neither this website nor our affiliates guarantee the accuracy of or endorse the views or opinions expressed in this press release.

The press release is provided for informational purposes only. The content does not provide tax, legal or investment advice or opinion regarding the suitability, value or profitability of any particular security, portfolio or investment strategy. Neither this website nor our affiliates shall be liable for any errors or inaccuracies in the content, or for any actions taken by you in reliance thereon. You expressly agree that your use of the information within this article is at your sole risk.

To the fullest extent permitted by applicable law, this website, its parent company, its subsidiaries, its affiliates and the respective shareholders, directors, officers, employees, agents, advertisers, content providers and licensors will not be liable (jointly or severally) to you for any direct, indirect, consequential, special, incidental, punitive or exemplary damages, including without limitation, lost profits, lost savings and lost revenues, whether in negligence, tort, contract or any other theory of liability, even if the parties have been advised of the possibility or could have foreseen any such damages.