GFH Bank has announced a remarkable growth in its profits during the first quarter of 2026, with a net profit attributable to shareholders of $35.11 million, compared to $30.14 million in the same period last year, reflecting an increase of 16.5%.
These positive results come at a time when the regional market is facing significant challenges, as the bank indicated that the strong performance was supported by the diversity of its business lines and its ability to adapt to changing conditions.
Event Details
The earnings per share rose to $1.01 compared to $0.85 in the first quarter of 2025, marking an annual increase of 18.8%. Additionally, total income increased to $150.99 million, a rise of 23.9% compared to the previous year.
Despite these positive results, total comprehensive income recorded a loss of $8.58 million, while the consolidated net profit attributable to shareholders rose to $34.34 million, growing by 11.9%.
Background & Context
These results serve as evidence of GFH Bank's ability to achieve growth in a challenging environment, as total expenses rose to $116.65 million, compared to $91.18 million in the same period last year, an increase of 27.9%, reflecting business expansion and growth in operational activities.
Total equity attributable to shareholders reached $907.26 million by the end of March 2026, compared to $1.02 billion at the end of December 2025, a decrease of 11.1%, primarily due to annual dividend distributions. Total assets remained stable at $12.17 billion, with a slight decrease of 0.3%.
Impact & Consequences
Abdul Mohsen Al-Rashed, Chairman of the Bank, confirmed that the positive performance reflects the strength of the diversified business model and discipline in execution, noting that the transformation into GFH Bank reflects the evolution of the banking and investment services model.
Meanwhile, Hisham Al-Rais, the CEO, pointed out that the bank started 2026 with strong performance, with continued growth in profits and revenues, despite the impact of regional conditions on market sentiment.
Regional Significance
These results are a positive indicator of the ability of financial institutions in the region to adapt to changing economic conditions, enhancing confidence in the banking sector and reflecting relative stability in financial markets.
In conclusion, GFH Bank continues to enhance its capabilities by expanding its customer base and developing digital capabilities, contributing to achieving long-term growth objectives.