Latest news with #HammadHassan
Trade Arabia
27-05-2025
- Business
- Trade Arabia
Bank ABC Islamic named ‘Best Sukuk House in Bahrain'
Bank ABC Islamic has been recognised as the 'Best Sukuk House in Bahrain' at the Euromoney Islamic Awards 2025. This award highlights the bank's excellence in Islamic finance and its commitment to offering Sharia-compliant banking solutions across the MENA region and globally. The prestigious award was presented on May 20 in Dubai, at a ceremony attended by industry experts and peers. By offering superior Sharia-compliant financial products and services, Bank ABC Islamic has significantly expanded its market share across the MENA region and served clients across its network markets. The bank has provided inclusive Islamic financial solutions tailored to regional needs, further strengthening its foothold in the MENA region. The Islamic Bank's alignment with sustainability principles further underscores its commitment to generating positive social and environmental outcomes alongside financial returns. Commenting on this achievement, Hammad Hassan, Managing Director, Bank ABC Islamic & Group Head of Islamic Banking at Bank ABC, said: 'It is a great honour to be named 'Best Sukuk House in Bahrain' at the Euromoney Islamic Finance Awards 2025. This award reflects our commitment to advancing Islamic finance in the region and globally, and our efforts dedicated towards delivering genuine Sharia-compliant financial solutions aligned with Bank ABC's overarching sustainability goals. I thank Euromoney for recognising our growth and innovation in our Islamic Banking offering, as well as the team behind Bank ABC Islamic and our product partners across Bank ABC Group for their focused efforts and perseverance." Bank ABC Islamic has been instrumental in facilitating high-profile Sukuk transactions, including multi-million-dollar issuances that underscore its expertise and thorough understanding of client needs. The bank recently played a key role as joint lead manager in a landmark sustainable Sukuk issuance and served as co-lead manager in a major green Sukuk offering by a prominent Gulf conglomerate. Over the last few years, the bank has played a pivotal role in enabling large corporate Issuers from the US and Europe tap Islamic liquidity from the region for the first time, and these mandates have received largescale industry recognition. This was achieved through the close collaboration of Bank ABC Islamic's structuring team and Bank ABC Group's Debt Capital Markets platform, with its strong product and distribution capabilities, which come together very successfully. alburaq, Bank ABC Islamic's fully digital Islamic banking window, has also seen great success. Designed to deliver seamless Sharia-compliant digital banking services, alburaq has reinforced Bank ABC Islamic's position as a frontrunner in state-of-the-art Islamic finance. Ben Naylor, Global Head of Research, Euromoney, commented: ''Bank ABC Islamic led Bahrain's Sukuk market, closing 16 mandates worth $12 billion. Highlights include landmark deals for AerCap, Turkey, and Dubai Islamic Bank. Its Islamic structuring expertise, and ESG-focused issuances cemented its position as a top Sukuk arranger.' Bank ABC Islamic's focus on digital innovation, product development, and sustainable Islamic finance continue to set new standards in the industry. With this solid foundation, Bank ABC Islamic is ready to further develop the Islamic sustainable finance market globally, offering Shari'a-compliant banking products and services to a broader investor base. – TradeArabia News Service
Zawya
27-05-2025
- Business
- Zawya
Bank ABC Islamic named ‘Best Sukuk House in Bahrain'
Bahrain - Bank ABC Islamic has been recognised as the 'Best Sukuk House in Bahrain' at the Euromoney Islamic Awards 2025. This award highlights the bank's excellence in Islamic finance and its commitment to offering Sharia-compliant banking solutions across the MENA region and globally. The prestigious award was presented on May 20 in Dubai, at a ceremony attended by industry experts and peers. By offering superior Sharia-compliant financial products and services, Bank ABC Islamic has significantly expanded its market share across the MENA region and served clients across its network markets. The bank has provided inclusive Islamic financial solutions tailored to regional needs, further strengthening its foothold in the MENA region. The Islamic Bank's alignment with sustainability principles further underscores its commitment to generating positive social and environmental outcomes alongside financial returns. Commenting on this achievement, Hammad Hassan, Managing Director, Bank ABC Islamic & Group Head of Islamic Banking at Bank ABC, said: 'It is a great honour to be named 'Best Sukuk House in Bahrain' at the Euromoney Islamic Finance Awards 2025. This award reflects our commitment to advancing Islamic finance in the region and globally, and our efforts dedicated towards delivering genuine Sharia-compliant financial solutions aligned with Bank ABC's overarching sustainability goals. I thank Euromoney for recognising our growth and innovation in our Islamic Banking offering, as well as the team behind Bank ABC Islamic and our product partners across Bank ABC Group for their focused efforts and perseverance." Bank ABC Islamic has been instrumental in facilitating high-profile Sukuk transactions, including multi-million-dollar issuances that underscore its expertise and thorough understanding of client needs. The bank recently played a key role as joint lead manager in a landmark sustainable Sukuk issuance and served as co-lead manager in a major green Sukuk offering by a prominent Gulf conglomerate. Over the last few years, the bank has played a pivotal role in enabling large corporate Issuers from the US and Europe tap Islamic liquidity from the region for the first time, and these mandates have received largescale industry recognition. This was achieved through the close collaboration of Bank ABC Islamic's structuring team and Bank ABC Group's Debt Capital Markets platform, with its strong product and distribution capabilities, which come together very successfully. alburaq, Bank ABC Islamic's fully digital Islamic banking window, has also seen great success. Designed to deliver seamless Sharia-compliant digital banking services, alburaq has reinforced Bank ABC Islamic's position as a frontrunner in state-of-the-art Islamic finance. Ben Naylor, Global Head of Research, Euromoney, commented: ''Bank ABC Islamic led Bahrain's Sukuk market, closing 16 mandates worth $12 billion. Highlights include landmark deals for AerCap, Turkey, and Dubai Islamic Bank. Its Islamic structuring expertise, and ESG-focused issuances cemented its position as a top Sukuk arranger.' Bank ABC Islamic's focus on digital innovation, product development, and sustainable Islamic finance continue to set new standards in the industry. With this solid foundation, Bank ABC Islamic is ready to further develop the Islamic sustainable finance market globally, offering Shari'a-compliant banking products and services to a broader investor base. Copyright 2024 Al Hilal Publishing and Marketing Group Provided by SyndiGate Media Inc. (
Al Bawaba
27-05-2025
- Business
- Al Bawaba
Bank ABC Islamic Named ‘Best Sukuk House in Bahrain' at Euromoney Islamic Finance Awards 2025
Bank ABC Islamic has been recognised as the 'Best Sukuk House in Bahrain' at the Euromoney Islamic Awards 2025. This award highlights the Bank's excellence in Islamic finance and its commitment to offering Sharia-compliant banking solutions across the MENA region and globally. The prestigious award was presented on 20 May, 2025, in Dubai, at a ceremony attended by industry experts and peers. By offering superior Sharia-compliant financial products and services, Bank ABC Islamic has significantly expanded its market share across the MENA region and served clients across its network markets. The Bank has successfully provided inclusive Islamic financial solutions tailored to regional needs, further strengthening its foothold in the MENA region. The Islamic Bank's alignment with sustainability principles further underscores its commitment to generating positive social and environmental outcomes alongside financial returns. Commenting on this achievement, Hammad Hassan, Managing Director, Bank ABC Islamic & Group Head of Islamic Banking at Bank ABC, said, 'It is a great honour to be named 'Best Sukuk House in Bahrain' at the Euromoney Islamic Finance Awards 2025. This award reflects our commitment to advancing Islamic finance in the region and globally, and our efforts dedicated towards delivering genuine Sharia-compliant financial solutions aligned with Bank ABC's overarching sustainability goals. I thank Euromoney for recognising our growth and innovation in our Islamic Banking offering, as well as the team behind Bank ABC Islamic and our product partners across Bank ABC Group for their focused efforts and perseverance." Bank ABC Islamic has been instrumental in facilitating high-profile Sukuk transactions, including multi-million-dollar issuances that underscore its expertise and thorough understanding of client needs. The Bank recently played a key role as joint lead manager in a landmark sustainable Sukuk issuance and served as co-lead manager in a major green Sukuk offering by a prominent Gulf conglomerate. Over the last few years, the Bank has played a pivotal role in enabling large corporate Issuers from the US and Europe tap Islamic liquidity from the region for the first time, and these mandates have received largescale industry recognition. This was achieved through the close collaboration of Bank ABC Islamic's structuring team and Bank ABC Group's Debt Capital Markets platform, with its strong product and distribution capabilities, which come together very successfully. alburaq, Bank ABC Islamic's fully digital Islamic banking window, has also seen great success. Designed to deliver seamless Sharia-compliant digital banking services, alburaq has reinforced Bank ABC Islamic's position as a frontrunner in state-of-the-art Islamic finance. Ben Naylor, Global Head of Research, Euromoney, commented, ''Bank ABC Islamic led Bahrain's Sukuk market, closing 16 mandates worth US$12 billion. Highlights include landmark deals for AerCap, Turkey, and Dubai Islamic Bank. Its Islamic structuring expertise, and ESG-focused issuances cemented its position as a top Sukuk arranger.' Bank ABC Islamic's focus on digital innovation, product development, and sustainable Islamic finance continue to set new standards in the industry. With this solid foundation, Bank ABC Islamic is ready to further develop the Islamic sustainable finance market globally, offering Shari'a-compliant banking products and services to a broader investor base.
Al Bawaba
14-05-2025
- Business
- Al Bawaba
bank ABC islamic reports strong q1 2025 net profit of $ 14.4 million
Bank ABC Islamic - today announced a robust financial result for the first quarter of 2025, reporting a net profit of US$ 14.4 million, a 33.7% increase compared to US$ 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 US$ 3.0 billion, reflecting a healthy balance sheet position. Key Performance HighlightsNet profit of US$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 US$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 US$2.8 million, 58.2% lower compared to US$6.7 million for last year. Commenting on the results, Mr. 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 Mr. Hassan, 'Despite an uncertain regional and global macroeconomic backdrop, we remain cautiously optimistic of the business environment for rest of the year.' A more detailed summary of the Financial Results is explained below:Business Performance (three-month period):Net profit for the first quarter was US$14.4 million compared to US$10.8 million reported in the first quarter of last for credit losses for the period were a write back of US$2.3 million compared to a charge of US$1.6 million reported during the same period last year. Operating expenses were US$2.8 million, compared to US$6.7 million for the same period of last year. Adjusting for exceptional charge of US$4.0 million last year, expenses were 4.1% higher compared to quarter one 2024. Balance Sheet:ABC Islamic Bank's total assets stood at US$3.042 billion as of March 31, 2025, compared to US$2.865 billion at 2024 were at US$1.2 billion, compared to US$1.3 billion at 2024 receivables, Ijarah and Musharaka financing were at US$1,765 million, compared to US$1,550 million at 2024 equity on March 31, 2025, stood at US$372 million, compared to US$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%. © 2000 - 2025 Al Bawaba ( Signal PressWire is the world's largest independent Middle East PR distribution service.
Zawya
13-05-2025
- Business
- Zawya
Bank ABC Islamic reports 33.7% rise in net profit to $14.4mln
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.' - Copyright 2024 Al Hilal Publishing and Marketing Group Provided by SyndiGate Media Inc. (
