Bank ABC announces its Sustainable Finance Framework
Bank ABC has announced the launch of its Sustainable Finance Framework, a comprehensive guide outlining the bank's approach and methodology for sustainable finance.
The framework establishes clear eligibility criteria for green, social, sustainable, sustainability-linked and transition finance projects, ensuring alignment with the group's broader sustainability strategy.
Bank ABC's Group CEO, Sael Al Waary, commented: 'The banking industry plays a central role in facilitating the transition towards a more sustainable global economy. At Bank ABC, we have embedded sustainability at the core of our strategy, and sustainable finance is a key pillar of this commitment. The launch of our Sustainable Finance Framework marks another key step in our journey, enabling us to continue to support our clients to achieve their sustainability goals.'
Developed in line with global best practices, the framework sets out the environmental and social metrics that financing activities must meet to be classified as sustainable by Bank ABC.
As part of its commitment to good governance and transparency, Bank ABC obtained a second party opinion (SPO) and external review from ISS-Corporate, a leading global SPO provider. ISS-Corporate validated that the framework is fully aligned with the International Capital Market Association's (ICMA) Green Bond Principles (GBP), Social Bond Principles (SBP), Sustainability Bond Guidelines (SBG), the Loan Market Association (LMA) Green Loan Principles (GLP) and Social Loan Principles (SLP) and contributes to the achievement of the UN SDGs, the bank said.
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Trade Arabia
13-05-2025
- Trade Arabia
Bank ABC Islamic reports 33.7% rise in net profit to $14.4m
Bank ABC Islamic – on Tuesday announced a robust financial result for the first quarter of 2025, reporting a net profit of $14.4 million, a 33.7% increase compared to $10.8 million for the same period last year. This growth was achieved at the back of stable core business, effective cost management, and steady cost of credit. Total assets reached $3 billion, reflecting a healthy balance sheet position. Key Performance Highlights Net profit of $14.4 million, 33.7% higher than same period last year. Total Operating income after profit on murabaha and other payables and before attribution to quasi-equity stood at $44.4 million, 2.9% higher than the same period last year, while net income attributable to quasi-equity increased by 11.7%. Operating expenses were $2.8 million, 58.2% lower compared to $6.7 million for last year. Balance Sheet ABC Islamic Bank's total assets stood at $3.042 billion as of March 31, 2025, compared to $2.865 billion at 2024 year-end. Investments were at $1.2 billion, compared to $1.3 billion at 2024 year-end. Murabaha receivables, Ijarah and Musharaka financing were at $1,765 million, compared to $1,550 million at 2024 year-end. Shareholders' equity on March 31, 2025, stood at $372 million, compared to $364 million at 2024 year-end. The bank's capital base remains very strong with a capital adequacy ratio of 39.7%, predominantly Tier 1, which totalled 38.9%. Commenting on the results, Hammad Hassan, Managing Director of Bank ABC Islamic, said: 'We have had a solid start to 2025. Our core income held steady year-on-year basis, while tighter cost discipline and lower credit charges translated into impressive bottom-line growth. Activity in capital markets was particularly strong, with the Bank leading several high-profile Sukuk mandates.' Bank ABC Islamic' s strong performance and client-centric innovation have earned it notable recognition. The Bank was named Best Islamic Corporate Bank in Bahrain 2024 and Best Islamic Digital Offering by an Islamic Bank in 2024 by Islamic Finance News (IFN). Additionally, several of the Bank's landmark transactions were recognised for their innovation and impact, including AerCap Holdings' US$500 million sukuk, which was awarded both the Most Innovative Deal of the Year and Sukuk Deal of the Year. The Bank also led the Bahrain Deal of the Year 2024 for Bahrain Steel US$450 million ESG financing facility, and structured Oman Telecommunications Company US$500 million Sukuk, which received both the Ijarah Deal of the Year and Oman Deal of the Year accolades. 'These awards are a testament to the strength of our product offering, structuring experties and client engagement across our core markets,' added Hassan. 'Despite an uncertain regional and global macroeconomic backdrop, we remain cautiously optimistic of the business environment for rest of the year.' - TradeArabia News Service
Trade Arabia
12-05-2025
- Trade Arabia
Bank ABC reports Q1 net profit of $76m
Bank ABC (Arab Banking Corporation) said the group has made a resilient start to the year, against a backdrop of challenging economic conditions, reporting a net profit attributable to the shareholders of the parent of $76 million for the first quarter, representing a 1% headline increase over the corresponding period last year. Adjusted for foreign exchange translation differences, underlying net profit rose by a robust 11% year-on-year (YoY), reflecting strong growth in the group's core businesses, it said. Despite the backdrop of persistent economic and geopolitical uncertainty, the group maintained its strategic focus on accelerated growth, while maintaining healthy capital and liquidity buffers, cost control and stable credit provisions. Bank ABC's business excellence, client-centricity and innovation leadership continue to receive regional and international recognition. Recent accolades include the 'Best Bank for Trade Finance in Bahrain' from the Global Finance World's Best Trade Finance Awards and 'World's Best Financial Innovation Lab Award for ABC Labs' from the Global Finance Innovators Awards. Moreover, Bank ABC's Islamic subsidiary was honoured as 'The Best Islamic Corporate Bank in Bahrain' and the 'Best Digital Offering by an Islamic Bank in Bahrain' by the Islamic Finance News Awards. Bank ABC's Group Chairman Naji Issa Belgasem commented: 'We are pleased with this robust start to the year. While escalating global trade tensions continue to cast a shadow on business sentiment, Bank ABC has repeatedly demonstrated its ability to navigate uncertain conditions, while delivering sustainable underlying growth. Our newly constituted Board of Directors is fully committed to delivering long-term shareholder value, whilst remaining focused on prudent risk management and sound corporate governance.' Other highlights of the financial results: * Earnings per share for the period was $0.022, compared to $0.021 in the same period last year. * Total comprehensive income attributable to the shareholders of the parent was a positive $154 million in Q1 2025 as compared to a negative $28 million during the same period last year. Q1 2025 benefited from the strengthening of the BRL against the US$, as compared to Q1 2024, which was impacted by devaluation of Egyptian Pound against US$. * Headline Total Operating Income for Q1 2025 was $332 million, a 3% reduction compared to $343 million reported for the same period last year. Underlying Total Operating Income for Q1 2025 was $360 million, compared to $343 million for the same period last year, a YoY growth of +5%, similarly adjusting for FX impact. Balance Sheet * Equity attributable to the shareholders of the parent and perpetual instrument holders at the end of the period was $4,266 million, compared to $4,207 million reported at the 2024 year-end, after absorbing the impact of dividend payment. * Total assets stood at $45.7 billion as at the end of Q1 2025, compared to $46.3 billion at the 2024 year-end, a 1% reduction, reflecting short-term asset and liability management fluctuations. * Healthy Capital and Liquidity ratios: Tier 1 Capital ratio at 15.0% of which CET 1 at 13.2%. LCR and NSFR at 209% and 126% respectively.
Biz Bahrain
12-05-2025
- Biz Bahrain
Bank ABC reports underlying net profit up 11% in Q1 2025
Bank ABC (Arab Banking Corporation B.S.C.) – Bahrain Bourse Trading Code 'ABC' – today announced its financial results for the first quarter of 2025. The Group has made a resilient start to the year, against a backdrop of challenging economic conditions, reporting a net profit attributable to the shareholders of the parent of USD$76 million, representing a 1% headline increase over the corresponding period last year. Adjusted for foreign exchange translation differences, underlying net profit rose by a robust 11% year-on-year (YoY), reflecting strong growth in the Group's core businesses. Despite the backdrop of persistent economic and geopolitical uncertainty, the Group maintained its strategic focus on accelerated growth, while maintaining healthy capital and liquidity buffers, cost control and stable credit provisions. Bank ABC's business excellence, client-centricity and innovation leadership continue to receive regional and international recognition. Recent accolades include the 'Best Bank for Trade Finance in Bahrain' from the Global Finance World's Best Trade Finance Awards and 'World's Best Financial Innovation Lab Award for ABC Labs' from the Global Finance Innovators Awards. Moreover, Bank ABC's Islamic subsidiary, was honoured as 'The Best Islamic Corporate Bank in Bahrain' and the 'Best Digital Offering by an Islamic Bank in Bahrain' by the Islamic Finance News Awards. Bank ABC's Group Chairman, Naji Issa Belgasem commented, 'We are pleased with this robust start to the year. While escalating global trade tensions continue to cast a shadow on business sentiment, Bank ABC has repeatedly demonstrated its ability to navigate uncertain conditions, while delivering sustainable underlying growth. Our newly constituted Board of Directors is fully committed to delivering long-term shareholder value, whilst remaining focused on prudent risk management and sound corporate governance.' Consolidated net profit attributable to the shareholders of the parent, for Q1 2025 was USD76 million, on a headline basis 1% higher compared to USD75 million reported for the same period last year. Underlying growth in net profit, adjusting for FX impact of BRL and EGP was 11%. Earnings per share for the period was USD0.022, compared to USD0.021 in the same period last year. Total comprehensive income attributable to the shareholders of the parent was a positive US$154 million in Q1 2025 as compared to a negative USD28 million during the same period last year. Q1 2025 benefited from the strengthening of the BRL against the USD, as compared to Q1 2024, which was impacted by devaluation of Egyptian Pound against USD. Headline Total Operating Income for Q1 2025 was USD332 million, a 3% reduction compared to USD343 million reported for the same period last year. Underlying Total Operating Income for Q1 2025 was USD360 million, compared to USD343 million for the same period last year, a year-on-year growth of 5%, similarly adjusting for FX impact. Equity attributable to the shareholders of the parent and perpetual instrument holders at the end of the period was USD4,266 million, compared to USD4,207 million reported at the 2024 year-end, after absorbing the impact of dividend payment. Total assets stood at USD45.7 billion as at the end of Q1 2025, compared to USD46.3 billion at the 2024 year-end, a 1% reduction, reflecting short-term asset and liability management fluctuations. Healthy Capital and Liquidity ratios: Tier 1 Capital ratio at 15.0% of which CET 1 at 13.2%. LCR and NSFR at 209% and 126% respectively. Bank ABC is a leading player in the region's banking industry, with presence in 15 countries across five continents. It provides innovative global wholesale banking solutions in both conventional and Islamic Finance, across Transaction Banking, Project and Structured Finance, Capital Markets, Financial Markets, Real Estate Finance to corporates and financial institutions. It also provides consumer banking services through its network of branches in Jordan, Egypt, Tunisia, Algeria, and through ila Bank, its digital mobile-only bank, in Bahrain and Jordan. The full financial statements and press release are available on the Bahrain Bourse and Bank ABC's website. Bank ABC will host a virtual Investors call to discuss the Q1 2025 earnings on 15 May 2025. Further details and the investor presentation are available at
