15/05/2026 04:26 AST
GFH Bank (GFH) has announced a net profit attributable to shareholders of $35.11 million for the first quarter of 2026 compared to $30.14 million in the same period last year, an increase of 16.5%.
The increase was achieved despite the impact of regional developments and heightened market uncertainty during the period, which affected performance across several core business lines, particularly investment activity, transaction execution and the timing of income recognition, the bank said.
Earnings per share for the quarter was US cents 1.01 compared with US cents 0.85 in the first quarter of 2025, an increase of 18.8% YoY. Total comprehensive income for the quarter stood at - $8.58 million, compared with $27.46 million in the same period of 2025, representing a decline of 131.2%.
Total Income was $150.99 million for the first quarter of the year compared with $121.87 million in the first quarter of 2025, an increase of 23.9%. Consolidated net profit for the first quarter attributable to shareholders was $34.34 million compared with $30.69 million in the first quarter of 2025, an increase of 11.9%. In line with business growth, total expenses for the quarter were $116.65 million compared with $91.18 million in the prior year period, an increase of 27.9%.
Total equity attributable to shareholders was $907.26 million at March 31, 2026 compared with $1,020.77 million at December 31, 2025, a decrease of 11.1%, primarily due to dividend declaration for 2025. Total assets were $12.17 billion at March 31, 2026 compared with $12.20 billion at December 31, 2025, a slight decrease of 0.3%.
GFH currently manages assets and funds valued at approximately $24 billion, including a global investment portfolio spanning the GCC, the United States of America and Europe, across sectors including industrial and logistics, healthcare, education, technology, infrastructure and real estate.
Abdulmohsen Rashed Al Rashed, Chairman, GFH Bank, said: "GFH Bank delivered a positive and resilient performance in the first quarter of 2026, reflecting the strength of its diversified business model, disciplined execution and ability to navigate a period marked by regional developments and heightened uncertainty across markets. Despite the effects such circumstances have had across sectors, the Bank continued to generate solid income and profitability, supported by the quality of its platform, the breadth of its activities and a continued focus on long-term value creation for shareholders. I would also reiterate that our transition to GFH Bank further reflects the continued evolution of our integrated banking and investment model."
Hisham Alrayes, CEO and Board Member, GFH Bank, said: "These results demonstrate the resilience of GFH's platform and its ability to continue delivering growth despite the broader regional environment and the impact it has had on market sentiment and transaction activity.
"Performance during the quarter was supported by solid contributions from the bank's core business lines. Wealth & Investment Management contributed $82.51 million, reflecting strong activity and continued client demand, while Credit & Financing contributed $39.97 million as a steady recurring income stream. Treasury & Proprietary Income remained an important contributor at $28.51 million, with the portfolio managed prudently in line with prevailing market conditions.
"Looking ahead, we remain focused on building on this momentum by further strengthening our integrated model, expanding client reach, advancing our digital capabilities and pursuing selective opportunities that align with our long-term growth and return objectives."
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