Yet another set of good results from Gulf Finanance House, Bahrains second largest company by market value. The leading Islamic investment bank posted second quarter profits of $104 million, an increase of 41 per cent over the corresponding quarter last year. Having made a formidable start to 2008, its momentum is undiminished thanks to the robust demand from oil rich governments for economic infrastructure projects in which it specialises. Other rapidly growing business lines include its MENA Venture Capital business.
Across Middle East and North Africa and Asia, the bank has established a unique and market dominant position in the business of originating, financing and delivering economically driven infrastructure projects anchored around industry specific business clusters.
Gulf Finance House has unveiled plans to create the largest cement company in the Middle East and North Africa region at a cost of $2 billion to feed the surging demand for the material that fuels the region's construction boom.
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