GFH Bank, a leading dynamic bank in the GCC region, has reported a 16.5% growth in its first-quarter net profit attributable to shareholders, supported by growth across its core business lines despite regional market uncertainty.
The Bahrain-listed bank posted net profit attributable to shareholders of $35.11 million for the three months ended March 31, compared with $30.14 million a year earlier.
Earnings per share rose to 1.01 US cents from 0.85 cents in the prior-year period, while total income increased 23.9% to $150.99 million.
GFH said performance during the quarter was affected by regional developments and heightened market uncertainty, which weighed on investment activity, transaction execution and the timing of income recognition across several business lines.
Total expenses rose 27.9% year-on-year to $116.65 million, in line with business growth, the bank said.
Total comprehensive income fell to a loss of $8.58 million from a gain of $27.46 million a year earlier.
Total equity attributable to shareholders declined 11.1% to $907.26 million at the end of March, mainly due to the declaration of 2025 dividends, while total assets were broadly stable at $12.17 billion.
GFH, which manages about $24 billion in assets and funds across the Gulf, United States and Europe, said wealth and investment management contributed $82.51 million during the quarter, while credit and financing income contributed $39.97 million.
Chairman Abdulmohsen Al Rashed said the bank’s performance reflected the strength of its diversified business model and its ability to navigate challenging market conditions.
"GFH Bank delivered a positive and resilient performance in the first quarter of 2026, reflecting the strength of its diversified business model, disciplined execution and ability to navigate a period marked by regional developments and heightened uncertainty across markets," he noted.
"Despite the effects such circumstances have had across sectors, the Bank continued to generate solid income and profitability, supported by the quality of its platform, the breadth of its activities and a continued focus on long-term value creation for shareholders. I would also reiterate that our transition to GFH Bank further reflects the continued evolution of our integrated banking and investment model," he added.
CEO Hisham Alrayes said GFH would continue focusing on expanding its client base, strengthening digital capabilities and pursuing selective growth opportunities.
"GFH Bank reported a strong start to 2026, with Net Profit attributable to shareholders rising to $35.11 million in the first quarter, compared with $30.14 million in the same period last year, while total Income increased to $150.99 million from $121.87 million. These results demonstrate the resilience of GFH’s platform and its ability to continue delivering growth despite the broader regional environment and the impact it has had on market sentiment and transaction activity,".
"Performance during the quarter was supported by solid contributions from the Bank’s core business lines. Wealth & Investment Management contributed $82.51 million, reflecting strong activity and continued client demand, while Credit & Financing contributed $39.97 million as a steady recurring income stream. Treasury & Proprietary Income remained an important contributor at $28.51 million, with the portfolio managed prudently in line with prevailing market conditions," he added.
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