Bahrain’s GFH Financial increases stake in Khaleeji Commercial Bank as Shuaa exits
Bahrain-based GFH Financial Group has increased its ownership of Shariah-compliant Khaleeji Commercial Bank after buying shares from UAE’S Shuaa Capital and one of its subsidiaries.
GFH’s ownership of the bank is now 69.05%, up from 55.41%, after buying 121,726,795 shares from Shuaa and Goldilocks Fund for 8,764,329.240 Bahraini dinars ($23.25 million), it said in a regulatory filing on Monday (June 7).
GFH set up Khaleeji Commercial Bank in 2004. It is the only bank in GFH’s portfolio, that is dominated by real estate.
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