ADFG, IC transfer GFH shares to Al Hilal Bank

Dubai

GFH Financial Group said on Thursday that its shareholders Abu Dhabi Financial Company (ADFG) and Integrated Capital (IC) have transferred 102,094,573 and 79,905,427 of GFH’s shares respectively from their NINs to Al Hilal Bank for a financing facility.

“The total number of shares stated above represent 4.95 per cent of GFH’s total outstanding shares,” GFH said in a statement posted on Dubai Financial Market.

GFH Financial Group earlier said its consolidated net profit rose 12.1 per cent, in the first half to June, to $73.4 million (Dh269 million).

Consolidated net revenues rose 12.5 per cent to $124.2 million compared to $110.4 million in the same period last year.