GFH Financial Group
 | |
| Company type | Private |
|---|---|
| BHSE:GFH, KSE: 813, DFM: GFH | |
| Founded | 1999 |
| Headquarters | Bahrain Financial Harbour, , |
Area served | Asia |
Key people | Hisham Alrayes (CEO) |
| Services | Investment banking |
| Divisions | Wealth Management Commercial Banking Asset Management Real Estate Investment |
| Website | gfh.com |
GFH, previously known as Gulf Finance House, is an Islamic investment bank with headquarters in Bahrain Financial Harbour, Bahrain.[1] In 2007, GFH listed its GDRs in the London Stock Exchange.
It is also the owner of a 25% stake in the Football League Championship club Leeds United [2] through their wholly owned subsidiary, Dubai-based GFH Capital, having initially acquired 100% ownership of the club from Ken Bates in December 2012.[3]
On 7 February 2014 GFH Capital announced that they had exchanged contracts for the sale of Leeds to Massimo Cellino's family consortium 'Eleonora Sport Ltd'. The deal saw the Cellino family acquire a 75% ownership of the club in April 2014 after winning an appeal against the Football League's decision initially to block the sale.[4]
History of GFH
GFH is an Islamic investment bank (which recently transformed into a financial group[5]) that was established in the Kingdom of Bahrain in 1999 under a license granted by the Central Bank of Bahrain (CBB). Since its inception, GFH raised over US$5 billion of investments. The bank carries on its business activities in accordance with the principles of Islamic Sharia, including financial services investment and commercial transaction, negotiable financial instrument, real estate and infrastructure; in addition to structured finance, securities and liquidity management designed to achieve profitable returns for investors. GFH was transferred to a Public Shareholding Company in 2004 with its shares being listed on the Bahrain Stock Exchange, Kuwait Stock Exchange and Dubai Financial Market. In 2007, GFH listed its GDR’s on the London Stock Exchange. In 2014, GFH has made a total of consolidated income of US$160.0 million as compared to US$13.5 million in 2013. While operating profit before provisions for the year 2014 was at US$27.6 million compared to a loss of US$14.6 million in 2013. As a result, GFH currently has a strong capital adequacy of above 32%.[6]
GFH New Strategy and Branding
In November 2014, GFH released a new identity as it turns from being an investment bank to a financial group. The new name for the group will be (GFH Financial Group).[7]
Financial Information
- Paid up share capital USD 1,253,626,348.755
- Number of shares 4,730,665,467
- Par Value USD0.265
GFH is listed on the following stock markets:
GFH Projects
Real Estate Development Projects[8]
- Royal Ranches Marrakech
- Energy City Qatar
- GFH Mumbai Economic Development Zone
- Energy City Libya
- Tunis Financial Harbor
- Bahrain Financial Harbour
Corporate Investment Projects[9]
- Khaleeji Commercial Bank (KHCB)
- Philadelphia Private School, Dubai
- Leeds United Football Club
- Cemena Investment Company
- Al Basha’er GCC Equity Fund
- Injazat Technology Fund
Real Estate Investment[10]
- Diversified US Residential Portfolio, USA
- 42 Queens Gate Gardens
- UK and Gulf Atlantic Real Estate, UK
Chief Executive Officer
In 2012, Hisham Alrayes assumed leadership of GFH as Acting CEO. He has been the Chief Executive Officer of GFH since December 2013.[11]
Range of Activities
GFH's business lines cover aspects of financial services value chain, from financial and investments, to commercial banking operations. GFH's range of activities are Real Estate Development, Commercial Banking, Wealth Management and Asset Management. GFH splits its asset management activities into two areas: Corporate Investment & Real Estate Investment.[12]
Awards and achievements
In 2012, GFH received the Best Islamic Investment Bank [13](Bahrain) award from Capital Finance International (CFI). Other awards included: Banker Middle East’s Deal of the Year 2008,[14] Euromoney’s Best Investment Bank 2005, 2006 and 2007[15] and Best Islamic Investment Bank 2005.[16]
In addition to the awards, in 2014, GFH received four awards for the rebranding project which was done by Unisono and is recognized with a Bronze award for the Best Brand Architecture Solution, Best Visual Identity, Best Creative Strategy and Highly Commended.[17] from the Transform Awards MENA in Dubai.
See also
References
- ^ "GFH New Brand". Gulf Daily News. 22 Nov 2014.
- ^ "Cellino given go-ahead to purchase Leeds United". Reuters. 5 April 2014.
- ^ "Leeds United: GFH Capital completes takeover". BBC. 21 December 2012.
- ^ "Leeds United: Massimo Cellino wins takeover appeal". BBC. 5 April 2014.
- ^ "Awards". Kuwait News Agency. Retrieved 14 July 2015.
- ^ "History of GFH" (PDF). Gulf Finance House. Retrieved 14 July 2015.
- ^ "GFH New Branding". Gulf Daily News. Retrieved Nov 17, 2014.
- ^ "Real Estate Development" (PDF). Gulf Finance House. Retrieved 14 July 2015.
- ^ "Corporate Investment Projects" (PDF). Gulf Finance House. Retrieved 14 July 2015.
- ^ "Real Estate Investment" (PDF). Gulf Finance House. Retrieved 14 July 2015.
- ^ "Chief Executive Officer" (PDF). Gulf Finance House. Retrieved 14 July 2015.
- ^ "Range of Activities" (PDF). Gulf Finance House. Retrieved 14 July 2015.
- ^ "Best Islamic Investment Bank Award". Saudi Gazette. February 19, 2013.
- ^ "Banker MEA 2008". Emerging Markets. October 10, 2008.
- ^ "Euromoney's Best Investment Bank". Arabian Business. Jul 14, 2015.
- ^ "Best Islamic Investment Bank". Arabian Business. Jul 14, 2015.
- ^ "Transform Awards MENA". Zawya. Jun 16, 2015.
