Al Ansari Financial Services Acquires BFC Group, Becomes Largest Non-Banking Financial Institution in GCC
This strategic acquisition significantly expands AAFS's regional footprint across Bahrain, Kuwait, and India, increasing the Group's customer base by 29% and branch network by 60%. The integration enhances the Group's operational scale and geographic reach, promising greater value for shareholders, customers, and employees.
Digital Innovation at the Core
AAFS has been a pioneer in financial technology through its award-winning Al Ansari Exchange app and a suite of advanced digital services. The Group is actively incorporating artificial intelligence into various operations to boost personalization, efficiency, and fraud prevention.
The Group aims to extend its successful digital-first model to BFC entities, reinforcing its leadership in tech-driven financial services across the region.
Strategic Gains from the Acquisition
Market Leadership: AAFS now leads the NBFI sector in the GCC, strengthening its dominance in remittances and foreign exchange.
Regional Expansion: The acquisition secures AAFS's top position in Bahrain, third in Kuwait, and expands its customer base in India—while maintaining its leading role in the UAE.
Digital Capabilities: BFC's fintech expertise complements AAFS's technology-driven growth strategy.
Operational Synergies: The merger is set to generate economies of scale, improve cost-efficiency, and enhance revenue growth.
Financial Impact
The transaction is immediately earnings-accretive. Based on 2024 data, the Group projects:
A 20% rise in operating income.
A 13% increase in EBITDA.
A 13% growth in net profit after tax.
Strengthened cash flows, improving dividend distribution potential.
Leadership Commentary
Rashed A. Al Ansari, Group CEO of Al Ansari Financial Services, stated:
'Today's acquisition marks a pivotal step in our journey. It demonstrates our commitment to regional expansion, innovation, and financial strength. We are confident that this move will deliver long-term value to our shareholders and reinforce our promise of consistent returns.'
Looking Ahead
With its expanded market presence and enhanced capabilities, AAFS is poised to accelerate its growth trajectory. The Group will continue focusing on operational efficiency, digital transformation, and unlocking new revenue streams. The acquisition is expected to pave the way for new strategic partnerships, innovative product offerings, and deeper market penetration across key remittance corridors.
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Daily Tribune
5 days ago
- Daily Tribune
Al Baraka Islamic Bank Announces Expansion of Cash Prizes for 'Al Barakat' Account to a Total of USD 6 Million in 2025
Al Baraka Islamic Bank, one of the leading Islamic banks in the Kingdom of Bahrain, has announced an increase in the valuable cash prizes under Al Barakat Account prize scheme through year-end under the theme 'The Door of Al Barakat is now bigger', bringing total cash prizes to USD 6 million during 2025. This reflects the Bank's commitment to offering customers greater chances to win and achieve their aspirations. The first draw will take place on September 30, 2025, with 13 cash prizes totalling USD 350,000, including three grand prizes of USD 100,000 each. The second draw will follow in November 2025, offering 16 cash prizes totalling USD 250,000, including two prizes of USD 100,000 each. Al Barakat will conclude 2025 with a massive draw in early 2026, offering its customers unprecedented prizes totaling USD one million, which will be awarded to 11 winners, including 750,000 US dollars to be distributed among three winners. Commenting on the occasion, Mr. Mazin Dhaif, Chief Retail Officer at Al Baraka Islamic Bank, said: 'At Al Baraka Islamic Bank, we remain committed to providing rewarding, Shari'ah-compliant banking solutions, and the expansion of the Al Barakat Account prize programme is a key step in this direction. By diversifying and increasing prize tiers and holding multiple draws, we enhance our customers' chances of winning and encourage them to save and invest with confidence.' He added: 'We are pleased to invite all our valued customers to participate and grow their savings with Al Barakat. We wish everyone the best of luck in benefiting from the valuable winning opportunities as 'The Door of Al Barakat Just Widened', while we continue to enhance our services to deliver outstanding banking experiences that meet diverse needs and support our customers' financial ambitions.' The Al Barakat Investment Account from Al Baraka Islamic Bank, which is Shari'ah-compliant, offers multiple opportunities to win amazing cash prizes throughout the investment period, with a minimum deposit of BD 50 or the equivalent of USD 135. Individuals of all nationalities aged 18 and above can open an Al Barakat Investment Account via Al Baraka Islamic Bank's mobile app without the need to visit a branch. Accounts for those under 18 can be opened by their parents or legal guardians. Al Baraka Islamic Bank is a leading Islamic bank in the Kingdom of Bahrain. Since its establishment in 1984, it has delivered outstanding results in operations and services for both individual and corporate clients. The bank has a proven track record of developing and providing innovative Shari'a-compliant investment solutions to a diverse global client base.
Syyaha
04-08-2025
- Syyaha
Middle East hospitality sales, marketing, revenue management and distribution experts set to convene in Dubai for 8th Commercial Strategy Conference
Dubai, UAE, 4 August 2025: The 8th Annual Commercial Strategy Conference MEA (CSC), organized by Hospitality Sales and Marketing Association International (HSMAI) Middle East and Africa (MEA), will take place on 25 and 26 November 2025 at the Conrad Dubai Hotel. The event will gather the region's leading hospitality experts in sales, marketing, revenue management and distribution for two inspirational days of presentations, panel debates, networking opportunities and awards. Since 2018, CSC has been the only conference of its kind in the region and the go-to event for hospitality peers to discuss the industry's most pressing issues and hottest topics. This year, HSMAI MEA and its Advisory Board of experienced industry veterans are taking it up a notch with a jam-packed programme aimed to educate, inspire and create connections among hoteliers and thought leaders. The 2025 Conference will focus on expert-led sessions by top industry leaders on revenue optimization, sales strategies, marketing trends, as well as the latest tools and technologies shaping the future of hospitality. A standout segment of the conference is the much-anticipated annual ROCKSTAR awards, designed to celebrate exceptional on-property professionals for their bold initiatives and outstanding contributions to the Middle East hospitality industry that push the boundaries of commercial success. The ROCKSTAR awards will feature nine finalists selected by the HSMAI MEA Advisory Board, who will be invited to present their strategies live during the conference where the audience will vote for the top three. Prizes for the winners include an HSMAI certification course, event attendance and annual membership, a 50 percent scholarship on the Executive Master's programs at Glion and Les Roches along with a complimentary executive course or select e-Academy certificate, as well as two free tickets anywhere in the world in partnership with Wego. Submissions can be made online here until 15 August. This year, HSMAI MEA is offering specially reduced delegate passes, priced at just USD 75, for university and college students and faculty. In addition, hoteliers from the GCC residing outside of the UAE receive 50 percent discount on delegate passes. Mona Faraj, President, HSMAI MEA, said: 'This year's Conference is shaping up to be our most ambitious and dynamic event yet – with record-breaking attendance, a broader spectrum of topics, and unparalleled opportunities for meaningful connections. Since the launch of the Revenue Optimization Conference (ROC) in the U.S. two decades ago, we've continually expanded and adapted, staying ahead of the curve to equip hotel leaders with the tools, insights, and strategies needed to address key challenges and capture new possibilities. As we approach our 8th regional CSC, anticipation is high for a rich exchange of ideas, impactful networking, and game-changing discoveries at what has become the premier industry gathering in the Middle East and Africa.' The event will be preceded by four in-person review courses: Certified Hospitality Digital Marketer (CHDM), Certified revenue Management Executive (CRME), Certified Hotel Sales Leader (CHSL)and Certified in Hospitality Business Acumen (CHBA), taking place on 23 and 24 November, a unique opportunity for hospitality professionals to fast track their HSMAI certification process. Registrations are now open, with special early bird discounts available until 31 July, click here to register and avail the early bird offers. Visit Partner with us for sponsorship opportunities and click here for full details of the conference.
Daily Tribune
31-07-2025
- Daily Tribune
BCFC Reports BD 2.2 Million Net Profit in the First Half of 2025
Bahrain Commercial Facilities Company BSC (trading code: BCFC) announced its financial result for the three months and six months periods ended 30 June 2025. The Group reported a net profit of BD 1.1 million, 27% lower than the net profit during the same period last year of BD 1.5 million. The basic and diluted earnings per share amounted to a profit of 6 Fils, 25% lower compared to 8 Fils for the same period last year. The Group registered a total comprehensive income of BD 1.0 million, 23% lower than BD 1.3 million for the same period last year. Six months During the six months period ended 30 June 2025, the Group achieved a net profit of BD 2.2 million, 33% lower than the net profit of BD 3.3 million for the same period last year. This resulted in a basic and diluted earnings per share amounting to a profit of 11 Fils, 35% lower compared to 17 Fils for the same period last year. The Group achieved a total comprehensive income of BD 1.8 million, 44% lower compared to BD 3.2 million for the same period last year. Total shareholders' equity stands at BD 104.6 million as of 30 June 2025, 1% lower than 31 December 2024 of BD 105.9 million. The Group's total assets as of 30 June 2025 stand at BD 219.2 million, 0.7% lower than 31 December 2024 of BD 220.8 million. The Group's total liabilities reached BD 114.6 million as of 30 June 2025, 0.3% lower than 31 December 2024 of BD 114.9 million. Mr. Abdulrahman Fakhro, the Chairman of Bahrain Commercial Facilities Company (BCFC), expressed his appreciation for the Group results and stated 'During the period, the Board acknowledges the Group's positive performance, with the majority of business segments delivering encouraging results, reflecting the resilience of the Group's diversified portfolio. Our focus continues to be on creating long-term value, approaching future opportunities with cautious optimism and a firm commitment to delivering sustainable returns for our shareholders.' Mr. Abdulla Bukhowa, the Chief Executive Officer of Bahrain Commercial Facilities Company (BCFC), stated, " The Group's performance over the past six months reflects a sound financial result, despite the ongoing economic headwinds, particularly the pressures of elevated interest rates. These outcomes highlight the Group's resilience and its ability to adapt effectively in a dynamic operating environment. Looking forward to continuing the implementation of our strategy and reaffirm our commitment to our clients by delivering high-quality services and innovative solutions. We remain optimistic about strengthening our position and continuing to create long-term value for our shareholders, clients, and all stakeholders. '
