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Saraha News
2 days ago
- Business
- Saraha News
Bank ABC announces results for the period ended 30 June 2025: Net profit attributable to shareholders reaches US$ 152 million
saraha news-Bank ABC (Arab Banking Corporation B.S.C.) – Bahrain Bourse Trading Code 'ABC' – today announces its financial results for H1 2025. Bank ABC continued its resilient performance, against a backdrop of continuing global economic uncertainty, with an H1 net profit of US$152 million, a 1% headline growth over the corresponding period last year. Adjusted for foreign exchange translation differences, underlying* net profit grew by a robust 9% year-on-year (YOY), reflecting strong and diversified core business performance, underpinned by well-controlled credit costs. The Group's total assets reached a historic US$48 billion, propelled by a combination of core business momentum, FX movements as well as portfolio management activity. The Group continued to maintain healthy capital and liquidity buffers. During the period, Bank ABC received several prestigious industry awards, including 'MENA Cash Management Bank of the Year' by MEED's MENA Banking Excellence Awards and 'Best Bank for Sustainable Finance' and 'Bahrain's Best Digital Bank' by Euromoney Awards for Excellence. In addition, ila Bank was named 'MENA Retail Bank of the Year' by MEED and 'Bahrain's Best Consumer Digital Bank' by Euromoney. Bank ABC Islamic was also recognized as 'Best Sukuk House in Bahrain' by Euromoney's Islamic Finance Awards. Bank ABC's Group Chairman, H.E. Naji Belgasem remarked, 'The Group delivered strong results in the first half of 2025, particularly given the turbulent geopolitical environment that prevailed during this period. This stands testament to Bank ABC's diversified business model and focused execution of the strategy, which allows it to leverage market opportunities across the Group's international franchise while maintaining focus on balance sheet health. Business pipelines are strong, supporting confidence in revenue momentum and delivery of sustained value for all our shareholders over the remainder of the year.' Detailed summary of the Financial Results is explained below: Q2 2025 Performance Highlights Consolidated net profit attributable to the shareholders of the parent, for Q2 2025 was US$76 million, +1% higher compared to US$75 million reported for the same period last year, on a headline basis. Underlying* growth in net profit, adjusted for FX impact was+5%. Earnings per share for the period was US$0.024, in line with the same period last year. Total comprehensive income attributable to the shareholders of the parent was a positive US$99 million as compared to a negative US$28 million reported during the same period of last year. Q2 2025 benefitted from the strengthening of currencies (in particular BRL) against the US$, as compared to Q2 2024, which was impacted by the devaluation of the BRL against the US$. Total operating income for Q2 2025 was US$340 million, 3% higher compared to US$331 million reported for the same period last year. Underlying* Total Operating Income for Q2 2025 was US$353 million, compared to US$ 331 million for the same period last year, a YoY growth of +7% after adjusting for FX impact. H1 2025 Performance Highlights Consolidated net profit attributable to the shareholders of the parent, for H1 2025 was US$152 million, a growth of 1% compared to US$150 million reported last year. Underlying* growth in net profit, adjusted for FX impact was +9%, driven by a combination of higher average asset volumes and steady cost of credit. Earnings per share for the period was US$0.046, compared to US$0.046 in the same period last year. Total comprehensive income attributable to the shareholders of the parent was a positive US$253 million as compared to a negative US$56 million during the same period last year. H1 2024 was impacted by the devaluation of Egyptian pound and Brazilian Real against the US$. Total operating income for H1 2025 was US$672 million, as compared to US$674 million reported last year. Underlying* Total Operating Income was US$713 million, reflecting a growth of +6% after adjusting for FX impact reflecting broad based growth across almost all the core markets. Balance Sheet Equity attributable to the shareholders of the parent and perpetual instrument holders at the end of the period was US$4,363 million, compared to US$4,207 million reported at the 2024 year-end, after absorbing the impact of dividend payments. Total assets stood at US$48.0 billion at the end of the period, as compared to US$46.3 billion reported at the 2024 year-end, an increase of 4% driven by core business growth in the loan portfolio, FX movements and balance sheet optimization and portfolio management actions. Healthy Capital and Liquidity ratios: Tier 1 Capital ratio at 14.8%, of which CET1 at 13.0%. LCR and NSFR at 177% and 121% Bank ABC is a leading player in the region's banking industry, with a 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 ila banking app in 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 H1 2025 earnings on 18 August 2025. Further details and the investor presentation are available at
Biz Bahrain
01-08-2025
- Business
- Biz Bahrain
Seef Properties reports Bd2.7 Million Net Profit Attributable to shareholders of the parent for the six-month period ended 30 June 2025
Seef Properties B.S.C. (Bahrain Bourse Trading Code: SEEF) announced its financial results for the second quarter ended 30 June 2025 and six months period ended 30th June 2025. The Company reported a net profit and comprehensive income attributable to the parent of BD 1.5 million during the second quarter of 2025, compared to BD 1.7 million for the same period of the previous year, a decrease of 13.3%. The change is attributable to increased market competition and economic fluctuations. Diluted earnings per share attributable to the parent for the first quarter of 2025 amounted to 3 Fils, compared to 4 Fils for the same period the previous year. The Company's operating profits stood at BD 2.9 million for the second quarter of 2025, compared to BD 3.2 million for the same period in the previous year, a decrease of 9.3%. The Company reported a net profit and comprehensive income attributable to the parent of BD 2.7 million for the six-month period ended 30th June 2025, compared to BD 3.1 million for the same period last year, a decrease of 12.9%. Basic and diluted earnings per share attributable to the parent for the six months period ended 30th June 2025 amounted to 6 fils, compared to 7 fils for the same period of the previous year. The Company reported a decrease in operating profit for the period ended 30th June 2025 by 10.4%, reaching BD 5.8 million, compared to 6.5 million for the same period of the previous year. Revenues for the period ended 30th June 2025 decreased by 9.7%, reaching 7.5 million, in comparison with the BD 8.3 million reported in the same period last year. The Company's total equity (after excluding the equity attributable to minority) for the second quarter of 2025 decreased by 0.9%, reaching BD 160.4 million, compared to BD 161.8 million for the same period in the previous year. Total assets for the second quarter decreased by 1.4 %, reaching BD 174.7 million compared to BD 177.1 million for the same period in the previous year. Commenting on these results, Seef Properties Chairman, Mr. Essa Mohamed Najibi stated: 'Our strategy continues to focus on diversifying our portfolio and enhancing the performance of our existing assets. Our balanced business model has helped us achieve several important milestones, including the signing of a second agreement to develop a large-scale mixed-use project in the Kingdom of Saudi Arabia. This is in line with our regional expansion plans and our ambition to share Seef Properties' expertise in real estate development, hospitality, and entertainment, while also building strategic partnerships that position us as a key contributor to Bahrain's economic growth and achieving the objectives of Economic Vision 2030.' Mr. Najibi expressed appreciation for the Kingdom's continued national achievements under the leadership of His Majesty King Hamad bin Isa Al Khalifa, and the follow-up of His Royal Highness Prince Salman bin Hamad Al Khalifa, the Crown Prince and Prime Minister. He added: 'Seef Properties remains committed to its role as a leading national company that contributes to economic development while consistently delivering value to shareholders and customers. Looking ahead, we will focus on launching high-quality, distinctive projects that respond to market needs, support urban growth in the region, and boost our competitive edge. We will continue investing in initiatives that reinforce Bahrain's leadership position and support its sustainable development goals.' Seef Properties Chief Executive Officer, Mr. Ahmed Yusuf said: 'At Seef Properties, we are executing a well-planned strategy to boost occupancy across our developments through targeted and attractive initiatives. In line with this, we have begun implementing our redevelopment plans, which mark an important new phase for the company. We are preparing for a full-scale transformation of Seef Mall – Seef District, reintroducing it in a modern form that reflects evolving visitor expectations through facility upgrades, service improvements, and new concepts that blend comfort with variety. We are also working to attract more top-tier local and international tenants and to diversify the mix of services offered to visitors. As a result, we have seen an increase in occupancy levels and signed new agreements that support our portfolio growth and enhance revenue sustainability.' Mr. Yusuf added: 'We are equally focused on enhancing visitor experience through environmentally conscious initiatives, most notably our solar energy project, which will supply clean electricity to all our commercial destinations. This is in line with our vision to improve quality of life in the Kingdom of Bahrain and support its commitment to meeting the highest global sustainability standards.'
Biz Bahrain
12-05-2025
- Business
- 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
Biz Bahrain
12-05-2025
- Business
- Biz Bahrain
SEEF PROPERTIES REPORTS BD1.2 MILLION NET PROFIT ATTRIBUTABLE TO SHAREHOLDERS OF THE PARENT FOR THE PERIOD ENDED 31 MARCH 2025
Seef Properties B.S.C. (Bahrain Bourse Trading Code: SEEF) announced its financial results for the first quarter ended 31 March 2025. The Company reported a net profit and comprehensive income attributable to the parent of BD 1.2 million during the first quarter of 2025, compared to BD 1.4 million for the same period of the previous year, a decrease of 12.5%. The change is attributable to increased market competition and economic fluctuations. Diluted earnings per share attributable to the parent for the first quarter of 2025 amounted to 2.7 Fils, compared to 3.0 Fils for the same period the previous year. The Company's operating profits stood at BD 2.9 million for the first quarter of 2025, compared to BD 3.3 million for the same period in the previous year, a decrease of 11.9%. The Company's total equity (after excluding the equity attributable to minority) for the first quarter of 2025 decreased by 1.8%, reaching BD 159.0 million, compared to BD 161.8 million for the same period in the previous year. Total assets for the first quarter increased by 0.4%, reaching BD 177.8 million compared to BD 177.1 million for the same period in the previous year. Commenting on these results, Seef Properties Chairman, Mr. Essa Mohamed Najibi stated, 'Seef Properties continues to cement its position as an industry leader with a clear strategic vision and strong adaptability to economic shifts. This quarter's performance reflects our commitment to financial sustainability and quality growth, particularly in the hospitality and retail sectors. Despite lower revenues this period, some of our destinations have continued to perform well even in the face of growing market challenges and increased competition. The investments we have made and our strategic partnerships are beginning to yield tangible results, building on past achievements.' He added: 'Seef Properties remains committed to delivering high-quality projects that are in line with the objectives of the Bahrain Economic Vision 2030, many of which have been achieved thanks to the support of His Majesty King Hamad bin Isa Al Khalifa and the guidance of His Royal Highness Prince Salman bin Hamad Al Khalifa, the Crown Prince and Prime Minister. We aim to play an active role in the Kingdom's economic development by creating integrated, market-driven projects that address local needs and attract investor interest. We are also pursuing new, high-impact opportunities that support Bahrain's competitiveness and reinforce its position as a regional commercial hub.' Seef Properties Chief Executive Officer, Mr. Ahmed Yusuf said, 'The first quarter of this year brought encouraging operational developments that directly enhanced both the quality of our services and the visitor experience across our destinations. Al Liwan, in particular, saw occupancy rates rise to 90%, driven by its diverse retail mix, strategic location, and the added value of Fraser Suites, which helped attract a new segment of visitors and tourists. We remain focused on enhancing our commercial properties by bringing in unique brands, diversifying our retail offerings, and advancing our renovation and expansion plans.' He added, 'As part of our sustainability efforts, the solar energy project we recently launched in partnership with Yellow Door Energy is progressing on schedule. Work is currently underway at all our destinations, and the project is expected to significantly reduce carbon emissions.'
Biz Bahrain
25-02-2025
- Business
- Biz Bahrain
Seef Properties Records BD 5.6 Million Net Profit Attributable To The Shareholders Of The Parent For Financial Year Ended 31 December 2024
Seef Properties B.S.C. (Bahrain Bourse Trading Code: SEEF) (the 'Company') announced its financial results for the fiscal year ended 31 December 2024, including the results of the last quarter of 2024. The Company reported a net profit and comprehensive income attributable to the parent of BD 1.41 million during the fourth quarter of 2024, compared to BD 1.59 million for the same period of the previous year, a decline of 11,09%. The change is linked to factors related to the company's implemented strategy for enhancing its financial and real estate assets. Diluted earnings per share attributable to the parent for the fourth quarter of 2024 amounted to 3.08 Fils, compared to 3.45 Fils for the same period the previous year. The Company's operating profits stood at BD 3.10 million for the fourth quarter of 2024, compared to BD 3.54 million for the same period in the previous year, a decrease of 12.39%. The Company recorded a net profit and comprehensive income attributable to the parent of BD 5.61 million for the financial year ended 31 December 2024, compared to BD 6.44 million for the same period last year, a decrease of 12.94%. Diluted earnings per share attributable to the parent amounted to 12.26 Fils for the year ended 31 December 2024, compared to 14 Fils for the same period of the previous year. Operating profits for the year ended 31 December 2024 reached BD 12.32 million, compared to BD 13.95 million for the same period of the previous year, a decrease of 11.70%. The Company's total equity (after excluding the equity attributable to minority) for the year ended 31 December 2024 increased by 0.48%, reaching BD 161.85 million, compared to BD 161.08 million for the same period in the previous year. Total assets for the year ended 31 December 2024 decreased slightly by 1.04%, reaching BD 177.14 million for the year ended 31 December 2024, compared to BD 178.99 million for last year. Based on the financial results, the Board of Directors is recommending to the General Assembly the distribution of cash dividends of 9% of share nominal value, equivalent to 9 Fils per share amounting to BD 4.09 million after deducting treasury shares, as well as the allocation of BD 170K towards the Company's corporate social responsibility program. Commenting on the results, Seef Properties Chairman, Mr. Essa Mohamed Najibi, said: 'We are pleased to announce our financial results for 2024, a year marked by significant achievements that reaffirm the strength of Seef Properties' operational strategy and the efficacy of its business model, despite market challenges. One of our most notable accomplishments was forming a strategic alliance to develop a mixed-use project in Dammam, our first regional expansion. This milestone strengthens the Company's position in the real estate sector and opens new opportunities for growth across the region. Our hospitality and entertainment projects also continued to perform well, with the launch of Fraser Suites Al Liwan, which quickly established itself as a premier hospitality destination in the Kingdom. We also expanded our presence in the retail sector, diversified our investment portfolio, and advanced our ongoing projects, reinforcing our position as one of the Kingdom's top-performing national companies.' He highlighted the Company's commitment to sustainable growth in line with national objectives, stating: 'Last year, Seef Properties launched one of the largest solar energy projects in Bahrain, a significant contribution towards enhancing energy efficiency, optimizing consumption, and reducing the Kingdom's carbon footprint. This initiative reflects our commitment to sustainability and renewable energy solutions, in line with Bahrain Economic Vision 2030 and the United Nations' Sustainable Development Goals. By investing in advanced technologies to improve operational efficiency and energy management, we are paving the way for a greener, more sustainable future for generations to come.' He added: 'I would like to thank the Government of Bahrain and the Ministry of Tourism for their ongoing support. We remain committed to supporting national initiatives that drive tourism growth in the Kingdom. I also extend my deepest appreciation to our shareholders, partners, and employees for their dedication and hard work, which continue to be the driving force behind our success.' Seef Properties CEO, Mr. Ahmed Yusuf said: 'In 2024, we continued implementing strategies to strengthen our market position and enhance our appeal to global brands. Our efforts helped attract new local and international retailers, enriching our tenant mix and increasing the competitiveness of our retail projects. We also remained focused on creating an integrated business environment that supports long-term growth by offering state-of-the-art facilities and services that meet the evolving demands of the market.' He added: 'The entertainment and hospitality sectors played a key role in our strategy last year, enhancing the appeal of our projects and attracting a wider audience of visitors and tenants. We are committed to developing vibrant destinations that deliver exceptional experiences while keeping pace with industry trends. We continue to enhance our entertainment offerings by introducing innovative concepts that add value and reinforce our projects as dynamic lifestyle destinations integrating shopping, leisure, and modern living.'
