GFH: Raising the Ownership Stake in the Global Bank to 50.4%
2020-08-26 - 5:01 am
Bahrain Mirror- Reuters: Bahrain-based financial group GFH said in a statement that it had raised its stake in Global Bank to 50.4 percent from 28.6 percent after Bahrain's central bank agreed to increase its stake to as much as 60 percent.
The statement said that the total assets of the global bank amounted to $ 125 million, while the value of the assets under management was about $ 500 million until June 2020, but the statement did not mention the value of the deal. The Global Bank is an investment bank that provides Sharia-compliant services.
"This acquisition is in line with the group's growth strategy and taking advantage of attractive opportunities to maximize shareholder return," the group said in the statement.
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