Latest news with #Khadiri
Sharjah 24
07-05-2025
- Business
- Sharjah 24
Bank of Sharjah: Net profit to AED 116 million for Q1 2025
The Bank's first-quarter results were underpinned by a resilient balance sheet, prudent asset allocation, and a sustained focus on business growth. Operating income rose to AED 201 million, up 40.6% year-on-year, while the Bank continued to demonstrate its commitment to maintaining cost discipline, building on the positive trajectory established in 2024. Commenting on the results, Sheikh Mohammed bin Saud Al Qasimi, Chairman of Bank of Sharjah, said: 'I am pleased to announce an exceptional start to 2025, as we achieved record profitability in the first quarter. This performance reinforces our trajectory of sustainable growth, the strength of our strategic initiatives and the resilience of our business model.' 'The UAE's dynamic economic environment continues to offer compelling opportunities, and we remain well-positioned to leverage them.' added Sheikh Mohammed bin Saud Al Qasimi. Also expressing delight at the remarkable results was Chief Executive Officer of Bank of Sharjah, Mr. Mohamed Khadiri, who commented: 'We have kicked off 2025 on a strong note, delivering an outstanding performance that reflects the successful execution of our transformation strategy. This achievement is driven by robust growth across all business lines, deeper client engagement, disciplined risk management, and the continued optimization of our operating model.' The Bank's Q1 2025 disclosure, released through the Abu Dhabi Securities Exchange (ADX), revealed a nearly 55% increase in profit before tax to AED 130 million. As of March 31, 2025, total assets reached AED 44.8 billion, with customer deposits rising to AED 30.5 billion, reflecting strong market confidence and customer loyalty. Liquidity and capital adequacy ratios remained comfortably above regulatory thresholds, reinforcing the Bank's robust financial standing. 'We are making meaningful progress in diversifying our revenue streams, expanding our customer base, and strengthening our client relationships – all of which are contributing to a well-balanced income mix and enhanced profitability.' added Mr. Khadiri. The Q1 2025 performance builds on the Bank's spectacular turnaround in 2024, where it reported a profit before tax of AED 416 million (AED 385 million after tax), reversing a loss of AED 275 million in 2023. The strong results confirm the success of management's transformation efforts and signals continued growth in the months ahead. 'As we look ahead, we are committed to sustaining this momentum. By leveraging our core strengths, we will continue to navigate market opportunities and challenges with agility. With a clear strategic vision and a culture anchored in resilience and innovation, Bank of Sharjah is well-positioned to sustain its upward trajectory and deliver consistent and long-term value for all stakeholders,' Mr. Khadiri concluded.
Sharjah 24
30-04-2025
- Business
- Sharjah 24
Bank of Sharjah leads a USD 500 mln Green Sukuk for Omniyat
The issuance attracted exceptional investor demand, with the order book oversubscribed 3.6 times. This strong interest from both international and regional investors reflects the global confidence in Omniyat's credit profile, the strategic appeal of the UAE's real estate sector, and the country's resilient economic outlook. Initially marketed as a benchmark size deal with price guidance in the high 8.00% area, the strength of the order book enabled the issuer to tighten pricing and set the final yield at 8.375%. On the back of this momentum, the issuance was upsized to USD 500 million, from the initially announced USD 400 million. Notably, 25% of the deal was allocated to investors from the UK, Europe, and the US offshore markets, highlighting robust international participation. In response to the successful closure of this transaction, Mr. Mohamed Khadiri, CEO of Bank of Sharjah, commented: 'While Omniyat has previously tapped the loan markets, this Sukuk issuance marks a strategic milestone as its first foray into the Debt Capital Markets. Completing this landmark transaction amid volatile market conditions is a testament to Omniyat's solid business fundamentals and the market's confidence in its long-term vision.' Mr. Khadiri continued: 'We are very pleased to count Omniyat among our valued corporate clients. This transaction is the beginning of a longstanding and mutually beneficial partnership. Our participation also reaffirms Bank of Sharjah's ongoing commitment to advancing sustainable finance initiatives in alignment with our Environmental, Social and Governance (ESG) framework and principles.' Mr. Damian White, Chief Treasury Officer at Bank of Sharjah, added: 'This Green Sukuk issuance represents a significant step in broadening the services and value that the Bank delivers to our customers. We are very pleased to have been part of Omniyat's inaugural sukuk issuance, and the success of the transaction underscores Omniyat's strong market positioning and execution strategy.' The successful completion of this high-profile transaction reinforces Bank of Sharjah's role as a trusted advisor and lead arranger in the region's evolving capital markets, while also stipulating the increasing importance of sustainable finance in the GCC and beyond.
Zawya
30-04-2025
- Business
- Zawya
Bank of Sharjah completes $500mln Green Sukuk issuance for Omniyat Holdings
SHARJAH - Bank of Sharjah has acted as Joint Lead Manager and Bookrunner in the successful issuance of a US$500 million, three-year Green Sukuk for Omniyat Holdings, alongside other international and regional banks. The issuance attracted exceptional investor demand, with the order book oversubscribed 3.6 times. This strong interest from both international and regional investors reflects the global confidence in Omniyat's credit profile, the strategic appeal of the UAE's real estate sector, and the country's resilient economic outlook. Initially marketed as a benchmark size deal with price guidance in the high 8.00 percent area, the strength of the order book enabled the issuer to tighten pricing and set the final yield at 8.375 percent. On the back of this momentum, the issuance was upsized to $500 million, from the initially announced $400 million. Notably, 25 percent of the deal was allocated to investors from the UK, Europe, and the US offshore markets, highlighting robust international participation. Mohamed Khadiri, CEO of Bank of Sharjah, commented, 'This Sukuk issuance marks a strategic milestone as its first foray into the Debt Capital Markets. Completing this landmark transaction amid volatile market conditions is a testament to Omniyat's solid business fundamentals and the market's confidence in its long-term vision.' Khadiri continued, 'We are very pleased to count Omniyat among our valued corporate clients. This transaction is the beginning of a longstanding and mutually beneficial partnership. Our participation also reaffirms Bank of Sharjah's ongoing commitment to advancing sustainable finance initiatives in alignment with our Environmental, Social and Governance (ESG) framework and principles.' Damian White, Chief Treasury Officer at Bank of Sharjah, stated that this green Sukuk issuance represents a significant step in broadening the services and value the Bank delivers to customers. The successful completion of this high-profile transaction reinforces Bank of Sharjah's role as a trusted advisor and lead arranger in the region's evolving capital markets, while also stipulating the increasing importance of sustainable finance in the GCC and beyond.
Zawya
30-04-2025
- Business
- Zawya
Bank of Sharjah acts as joint lead manager & bookrunner in a $500mln green sukuk issuance for Omniyat Holdings
Sharjah, UAE – Bank of Sharjah, one of the UAE's leading commercial banks, has acted as Joint Lead Manager and Bookrunner in the successful issuance of a USD 500 million, 3-year Green Sukuk for Omniyat Holdings, alongside other international and regional banks. The issuance attracted exceptional investor demand, with the order book oversubscribed 3.6 times. This strong interest from both international and regional investors reflects the global confidence in Omniyat's credit profile, the strategic appeal of the UAE's real estate sector, and the country's resilient economic outlook. Initially marketed as a benchmark size deal with price guidance in the high 8.00% area, the strength of the order book enabled the issuer to tighten pricing and set the final yield at 8.375%. On the back of this momentum, the issuance was upsized to USD 500 million, from the initially announced USD 400 million. Notably, 25% of the deal was allocated to investors from the UK, Europe, and the US offshore markets, highlighting robust international participation. In response to the successful closure of this transaction, Mr. Mohamed Khadiri, CEO of Bank of Sharjah, commented: 'While Omniyat has previously tapped the loan markets, this Sukuk issuance marks a strategic milestone as its first foray into the Debt Capital Markets. Completing this landmark transaction amid volatile market conditions is a testament to Omniyat's solid business fundamentals and the market's confidence in its long-term vision.' Mr. Khadiri continued: 'We are very pleased to count Omniyat among our valued corporate clients. This transaction is the beginning of a longstanding and mutually beneficial partnership. Our participation also reaffirms Bank of Sharjah's ongoing commitment to advancing sustainable finance initiatives in alignment with our Environmental, Social and Governance (ESG) framework and principles.' Mr. Damian White, Chief Treasury Officer at Bank of Sharjah, added: 'This Green Sukuk issuance represents a significant step in broadening the services and value that the Bank delivers to our customers. We are very pleased to have been part of Omniyat's inaugural sukuk issuance, and the success of the transaction underscores Omniyat's strong market positioning and execution strategy.' The successful completion of this high-profile transaction reinforces Bank of Sharjah's role as a trusted advisor and lead arranger in the region's evolving capital markets, while also stipulating the increasing importance of sustainable finance in the GCC and beyond. About Bank of Sharjah: Bank of Sharjah was established on December 22, 1973, through a decree issued by His Highness Sheikh Dr. Sultan bin Muhammad Al Qasimi, UAE Supreme Council Member and Ruler of Sharjah. Banking operations started in May 1974. The Bank was the first commercial bank in Sharjah, the fifth in the Federation and the first to make 40% of its capital available for public subscription. For media inquiries, please contact: Amir AlSalous Chief Marketing and Corporate Communications Officer, Bank of Sharjah
Zawya
16-02-2025
- Business
- Zawya
Bank of Sharjah acts as mandated lead arranger and bookrunner in a $155mln club loan facility for Daewoo Engineering & Construction
Sharjah, UAE – Bank of Sharjah, one of the leading commercial banks in the UAE, has reaffirmed its commitment to strengthening its footprint in local, regional and, international markets. Accordingly, the Bank has acted as Mandated Lead Arranger and Bookrunner for a US$ 155 Million Club Loan Facility for Daewoo Engineering & Construction Co Ltd., one of Korea's leading construction companies with a significant global presence. The three-year facility, arranged in collaboration with other regional banks, will be used for general corporate purposes, supporting Daewoo's working capital requirements for ongoing projects globally. Following the successful completion of the transaction, Mr. Mohamed Khadiri, CEO of Bank of Sharjah stated: 'We are delighted to have played a pivotal role in arranging this club loan for Daewoo Engineering & Construction. This achievement reflects Bank of Sharjah's strategic vision of supporting large international contractors by providing tailored financing solutions beyond their domestic borders.' Mr. Khadiri added: 'While Daewoo E&C has regularly tapped the syndicated loan markets in the past, this transaction represents another important milestone in expanding its banking relationships in the region. Our participation in this facility aligns with our mission to provide innovative financing solutions to global conglomerates while enhancing Bank of Sharjah's international market presence.' Mr. Haisam Mustafa, Head of International & Financial Institutions commented: 'This transaction further strengthens our track record of providing financial and advisory services to major multinational corporates worldwide. As we continue to pursue our strategic objectives, we remain committed to reinforcing our position as a premier banking institution in the Emirate of Sharjah and a leading bank in the region. We will continue to deliver bespoke funding solutions that meet the evolving needs of our customers.' -Ends- About Daewoo E&C: Established in 1973, Daewoo Engineering & Construction is recognized as one of the world's largest construction companies. Headquartered in Seoul, South Korea, the company is engaged in engineering and construction business, including civil works, architectural works, housing works, power plants and other projects in both domestic and overseas markets. With an established presence in UAE and the wider region, Daewoo is currently executing several mega projects. About Bank of Sharjah: Bank of Sharjah was established on December 22, 1973, through a decree issued by His Highness Sheikh Dr. Sultan bin Muhammad Al Qasimi, UAE Supreme Council Member and Ruler of Sharjah. Banking operations started in May 1974. The Bank was the first commercial bank in Sharjah, the fifth in the Federation and the first to make 40% of its capital available for public subscription. For media inquiries, please contact: Amir AlSalous Head of Marketing and Communications, Bank of Sharjah
