GFH Financial Group Reports Strong 2024 Earnings Growth with 15.21% Rise in Net Profit

TDT | Manama

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GFH Financial Group has announced a robust financial performance for 2024, reporting a 15.21% increase in net profit attributable to shareholders, reaching $118.50 million. The Bahrain-based investment group attributed its profitability to the strength of its investment banking, proprietary investment, and commercial banking businesses.

For the fourth quarter of 2024, GFH recorded an impressive 27.63% rise in net profit, totaling $30.56 million. This surge was driven by strong investment banking and treasury activities. Total income for the quarter climbed by 32.57% to $189.34 million, while consolidated net profit stood at $32.96 million, marking a 36.31% increase compared to the previous year.

The group's full-year performance reflected substantial growth, with total income surging by 39.86% to $675.82 million. Consolidated net profit for the year reached $128.51 million, representing an annual rise of 22.12%. Despite fluctuations in the fair value of its treasury and investment portfolio, GFH maintained its upward trajectory through strategic investments and disciplined financial execution.

Chairman Highlights Strategic Success

Commenting on the results, Chairman Abdulmohsen Rashed Al Rashed stated, “GFH has once again continued to deliver sustainable value for its shareholders with sound financial results. Net profit attributable to shareholders grew by more than 15% for the year, reflecting our disciplined execution, diversification, and the strength of our core businesses.”

Following the strong financial performance, the board has proposed a 5.5% cash dividend amounting to $55 million, pending regulatory and general assembly approvals.

Global Investment Expansion

GFH remained highly active in global investments, securing major transactions across the US, UK, and Saudi Arabia. In the US, the group acquired student housing assets worth $300 million, further diversifying its investment portfolio. Additionally, it launched a $96 million AI infrastructure fund and established a $44 million UK food logistics fund to capitalize on emerging market opportunities.

In Saudi Arabia, GFH strengthened its logistics sector through partnerships with Panattoni Saudi Arabia and Gulf Warehousing Company. The group committed $500 million over five years to expand its logistics operations, reinforcing its presence in the region’s growing commercial landscape.

With a strong financial outlook and a diversified global strategy, GFH Financial Group continues to enhance shareholder value and drive sustainable growth in key markets worldwide.