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International Investment Bank (IIB), a globally focused investment bank based in the Kingdom of Bahrain and operating in line with Shari’ah principles, has announced its annual financial results for the fiscal year ending 31st December 2013.

International Investment Bank announces net profit of over $6m for 2013

: Saturday, May 31 - 2014 @ 12:35

International Investment Bank (IIB), a globally focused investment bank based in the Kingdom of Bahrain and operating in line with Shari’ah principles, has announced its annual financial results for the fiscal year ending 31st December 2013.

IIB maintains a diverse portfolio of global investments covering different regions such as the Gulf Cooperation Council (GCC), Europe (UK, France, and Germany), Eastern Europe (Bosnia and Herzegovina), North Africa (Tunisia), Asia (Azerbaijan) and the United States across varied sectors including manufacturing, automotive, real estate, banking and retail. IIB’s return to profit in 2012 was sustained in 2013, with a net profit of over $6m. This was compared to a net profit of $8.2m in 2012.

Investment banking fee income increased by $1.7m to $4.9m, when compared to 2012. IIB’s operating profit in 2013 was $4.7m, compared to the same period in 2012 of $7.8m, largely as a result of non-recurring gains in 2012. IIB’s Capital Adequacy Ratio continues to be strong in 2013 at 48.6%, which is four times the minimum 12$ required by the Central Bank of Bahrain.

When commenting on the Bank’s financial results, His Excellency Mr. Saeed Abdul Jalil Mohammed Al Fahim, Chairman of IIB, said, “2013 saw IIB continue to enhance the quality of our investment portfolio and a new deal of $25.7m equity was concluded by the Bank. This promising deal has a total enterprise value of approximately $232m and is in a group of multi-family residential properties located in the US state of Texas. Texas has one of the highest growth markets in the United States and enjoys a booming economy and robust multi-family residential market. The new investment will provide attractive quarterly distributions and an opportunity for capital appreciation over the 5 year holding period.”

Mr. Aabed Al-Zeera, CEO and Board Member, said, “Despite the moderate, yet positive, growth in the global economy last year, IIB’s investment strategy continues to remain cautious. Our strict criteria for investments ensure that we offer our investors only the most selective of offerings. In 2013 IIB increased its shareholding in two existing investments, these were in an affordable housing development of approximately one million square meters strategically located north of Jeddah, in the Kingdom of Saudi Arabia, and a mixed use shopping development in Sarajevo city center, the capital of Bosnia & Herzegovina.”

For full details on IIB’s financial results, please see the ‘Financial Section’ on IIB’s website at www.iib-bahrain.com.

For more info please contact:
Maheen Ali
Media Manager
Hill+Knowlton Strategies Bahrain
Tel: +97317533532
Fax: +97317533370
Email: [email protected]

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Saturday, May 31- 2014 @ 12:35 UAE local time (GMT+4) Replication or redistribution in whole or in part is expressly prohibited without the prior written consent of Mediaquest FZ LLC.

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