Abu Dhabi Financial Group

#Bahrain's GFH repays $45 million in syndicated debt

Bahrain-based Islamic investment bank GFH Financial Group has repaid $45 million worth of debt, bringing its total syndicated liabilities down to $105 million. This is the latest effort by GFH to deleverage, having held liabilities of over $1 billion back in 2008. In June GFH planned to raise $150 million via sukuk to repay outstanding debts and use surplus cash for future investments. Together with Abu Dhabi Financial Group, GFH is working to establish an Islamic financial institution in Abu Dhabi's financial free zone with authorised capital of $100 million.

Abu Dhabi Financial Group lifts stake in GFH to 10 pct

The capital markets arm of Abu Dhabi Financial Group (ADFG) has raised its stake in Dubai-listed GFH Financial Group to 10 percent, ADFG said on Wednesday. Integrated Capital's stake was 7.4 percent previously, data from the Dubai Financial Market shows. Bahrain-based GFH, an Islamic investment bank, is among the most traded stocks on Dubai's bourse. The shares have gained 41 percent since the end of November, while Dubai's index fell 4.4 percent over the same period. ADFG has about $3.2 billion in assets under management, its statement said.

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