GFH Financial's Q2 net profit surges to $5.4 mln

14/08/2016 Argaam

GFH Financial Group, an Islamic invesmtent bank listed in Bahrain and Dubai, posted a net profit of $5.4 million for the second quarter of this year, up from $1.1 million in Q2-2015.

 

The company recorded an increase in income from financing assets and assets acquired for leasing during the quarter. Fee and commission income was also higher in Q2 when compared to the same quarter last year.

 

Total assets as of June 30 stood at $2.7 billion, with cash and bank balances valued at $77.6 million, the firm said in a statement to Dubai Financial Market.

 

GFH stock was up 0.8 percent to AED 0.86 after Dubai's stock market opened on Sunday.

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