GFH Financial Group announced yesterday its financial results for the first quarter of the year ending on March 31, 2021, as the group recorded a net profit of $ 16.12 million during the period to shareholders, compared to $ 5.08 million during the first quarter of 2020, an increase. By 217.2%.
Jassim Al-Siddiqi, Chairman of GFH Financial Group, said: “The first three months of 2021 saw the group progress at a steady pace across its various lines of business and achieve good growth in profits and income year after year.
Over the course of the first quarter of the year, we continued to work on the growth of our main activities represented in commercial and investment banking, asset management and treasury activities, in addition to our investment portfolios and our presence in important markets in the Gulf Cooperation Council countries, the United Kingdom, Europe and the United States. Building on this great momentum, we will focus on driving growth and enhancing value and our financial results in the coming periods.
Hisham Al Rayes, Group CEO, said: We entered 2021 with a set of promising opportunities and succeeded in converting them into investment transactions that were well received by our investors throughout the region. Profitability increased as a result of underwriting a number of diversified transactions.
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