PHOTO
Traders look at the screens at Bahrain Bourse in Manama, Bahrain, February 7, 2018. Image for illustrative purposes. Hamad I Mohammed
Bahrain’s Ithmaar Holding is working with a major shareholder to secure a capital injection.
The entity, which is listed in Dubai and Bahrain, announced it was selling its financing and investment portfolios to Bahrain’s GFH Financial Group last year, but the acquisition is yet to complete.
Ithmaar has two major shareholders according to LSEG data, Dar Al Maal Islamic Holding Co and Islamic Investment Company of Gulf Bahamas Co Ltd.
The company reported a profit of AED 123.75 million ($33.6 million) for 2024 with assets of AED 25.1 billion, up from AED 49 million on assets of AED 22.4 billion in 2023.
(Writing by Imogen Lillywhite; editing by Daniel Luiz)
