Tue, 07 September 2021
GFH Financial Group B.S.C has announced its financial results for the first six months of the year ended 30 June 2021. The Group reported net profit attributable to shareholders of USD20.92 million for the second quarter of the year up 109.8 percent when compared with USD 9.97 million for the second quarter of 2020. The increase reflects strong performance across business lines despite the ongoing impact worldwide of the COVID-19 pandemic.
Earnings per share for second quarter was US cents 0.68 compared to US cents 0.30 for the comparative quarter of 2020. Total income for the second quarter of 2021 was USD 90.62 million compared to USD 77.07 million for the second quarter of 2020, a rise of 17.6 percent. Consolidated net profit for the second quarter was USD 24.81 million compared with USD 13.60 million in the second quarter of 2020, an increase of 82.3 percent.
Major contributions for the second quarter of 2021 included income generated from the Group’s investment banking and placement activities, its financing portfolio and treasury income as well as higher contributions from its increased stake, acquired during the quarter, in Khaleeji Commercial Bank, the Group’s commercial banking subsidiary. Total expenses for the second quarter were USD 65.82 million compared to USD 63.46 million in the comparative period of 2020, an increase of 3.7 percent.