International Investment Bank

International Investment Bank (IIB) delivers profitable exit from aircraft leasing deal

International Investment Bank (IIB) announced the disposal of a Boeing 777-300 ER aircraft, resulting in over 30% IRR for the Bank. The aircraft, which was purchased by IIB in a sale and leaseback transaction earlier this year, is on lease to a leading regional airline on a non-cancellable basis for a period of nine years, and has recently been sold to an international buyer. IIB is currently exploring other attractive deals in the aviation market, IIB Chief Executive Officer, Subhi Benkhadra said.

IIB appoints new CEO

Bahrain-based International Investment Bank (IIB) has appointed Subhi F. Benkhadra as its new CEO. Benkhadra, previously the CEO of Abu Dhabi-based Baniyas Investment & Development Company, replaces acting CEO Fareed Bader, who continues in the role of executive committee member at the bank. Benkhadra is described as an experienced financial leader with a wealth of experience in traditional and Islamic investment banking in the UK and the Middle East. Benkhadra graduated from the University of Bath in 1987 with a BSc in environmental engineering and holds a MBA in finance from City University Business School.

International Investment Bank Appoints Subhi F. Benkhadra as the New CEO

Bahrain based International Investment Bank announces the appointment of Mr. Subhi F. Benkhadra as the new Chief Executive Officer. Mr. Benkhadra, previously the Chief Executive Officer of Abu Dhabi based Baniyas Investment & Development Company, replaces Mr. Fareed Bader, the acting Chief Executive Officer who continues in the role of Executive Committee Member at the bank. Mr. Benkhadra graduated from the University of Bath in 1987 with a BSc in Environmental Engineering and holds a MBA in Finance from City University Business School. He is also a former member of the Board of Directors of the Arab Bankers' Association in London.

Sarajevo City Center Project Reaches 60% Completion

The project Sarajevo City Center in Bosnia worth €130,000,000 has recently reached 60% completion. The project is conducted in partnership between International Investment Bank (IIB) and Al Shiddi Group. It is a hybrid complex which includes a number of main interconnecting features. A shopping mall is the central building of the complex together with an entertainment complex on 5 levels that cover an area of 49,500 square meters.

International Investment Bank's total income USD 1.8 mn, loss USD 900.000

Bahrain-based International Investment Bank's (IIB) total income reached USD 1.8 mn in Q1. This was mainly derived from investment banking fees generated from the structuring, underwriting and placement of new investments, together with profit earned on funds placed with financial institutions.

Total expenses reduced to USD 2.7 mn in the period, reflecting the lower business activity as compared to a year ago. A net loss was incurred of USD 900,000 compared to a net profit of USD 5.4 mn earned in the same period last year.

International Investment Bank posts USD 13.5 mn net profit and announces 7 % cash dividend for the year 2008

International Investment Bank (IIB), Bahrain announces a Net Income of USD 13.5 mn and the approval of a cash dividend payment of 7% for the year ended 31 December 2008.

At USD 13.5 mn, the 2008 Net Income represents a 12.3% return on Paid up Capital (ROC). The Capital Adequacy ratio at 31 December 2008 of 86% is over 7 times of 12% required by the Central Bank of Bahrain.

Mr. Aabed Al Zeera is the Chief Executive Officer and Board member.

For full details on IIB’s financial results, please see the ‘Financial Section’ on IIB’s website at source.

International Islamic Bank takes Tunisian company IPO

Business Intelligence reported on 13 April that International Investment Bank (IIB), a globally-focused Islamic investment bank based in Bahrain, announced the successful initial public offering of ARTES, the exclusive distributor of Renault, Nissan and Dacia in Tunisia.

Aabed Al-Zeera is Chief Executive Officer of IIB.
Mohamed Hadi Mejai is Executive Director, Investment and Business Development, IIB.

Source: http://www.bi-me.com/main.php?c=3&cg=2&t=1&id=19150

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