GFH Financial Group would like to inform its shareholders and the markets that Fitch Ratings, the international credit rating agency, has affirmed the ‘B’/’RR4’ senior unsecured Long-Term Rating of the Group’s US$500 million 2025 certificates issued through GFH Sukuk Company Limited (GFH SCL).

The ratings were noted by Fitch to reflect GFH’s resilient performance, improved business model towards more stable and recurring revenue sources, such as fee generation and lower-risk, lower-return investments.

The report looked at each of GFH’s core business lines, which comprise investment banking, real estate investments, treasury activities and commercial banking. Fitch noted that KHCB, the Group’s commercial banking subsidiary, remained a significant contributor to revenues (around 18% in 2022) and net profit, mainly through the provision of Islamic-financing products, which provides a source of more stable deposit funding to the Group.