GFH Financial Group would like to inform its shareholders and the markets that it has completed a strategic acquisition of a majority stake of 50.4% in Global Banking Corporation B.S.C. (“GB Corp”). The acquisition comes post receiving the Central Bank of Bahrain’s approval to increase the existing stake from 28.6% up to 60% of GB Corp.

It is to be noted that GB Corp is a leading investment bank incorporated in the Kingdom of Bahrain operating in the Arabian Gulf Countries and global markets with total assets of US$ 125 million and with total assets under management over US$ 500 million as at June 2020.

This acquisition comes in line with the Group’s growth strategy and taking advantage of attractive business opportunities to maximize returns to shareholders.

This transaction is expected to reflect positively on the Group’s financials and increase the size of assets and returns for the Group.