Al-Bilad Newspaper | Al-Ma’ashani: Activating the assets acquired from “Ithmaar” within 3 years

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The Chairman of the Board of Directors of Al Salam Bank, Sheikh Khaled bin Mustahil Al-Mashani, expected that the year 2023 would be a good year for the bank, with better financial and operational results than 2022, thanks to the existence of a clear strategic plan after the acquisition of Ithmaar Bank’s assets in the retail banking sector.
In press statements on the sidelines of the Ordinary and Extraordinary General Assembly of Al-Salam Bank held at the Movenpick Hotel, Al-Ma’ashani said that the focus during the years 2023, 2024 and 2025 will be on activating the assets acquired from Ithmaar Bank, so that it will reflect positively on the performance of Al-Salam Bank in the foreseeable future, God willing.
Al-Ma’ashani added, “We have achieved strong profits attributable to shareholders amounting to 31.59 million dinars in the past year 2022, and these financial results will be stimulating for the new year for many investors. “.
Al-Maashani confirmed that Al-Salam Bank is still investing in government sukuk as one of the good investment tools to achieve returns, pointing out that the bank will continue to focus on this type of profitable investment tools.
And regarding the continued high rates of profits, Al-Maashani indicated that the impact on the Bahraini market and the banking sector did not reach the upper limit, which is good for the Bahraini economy, expecting that the current year 2023 will witness a curb on high inflation.
He continued, “We are used to having a number of global economic challenges every year, and we succeeded, thanks to God, as a bank, in coexisting with many global challenges, the biggest of which is the Corona pandemic, and we overcame them well. As for profit rates, we have teams that have the wisdom and experience to overcome their effects.”
Regarding Al-Salam Bank – Algeria, Al-Maashani said that it is an independent banking entity that follows the regulations and legislation in the Republic of Algeria, and the highest shareholding percentage among the shareholders of Al-Salam Bank Algeria was acquired after the recent capital increase, which will contribute to increasing the profitability of Al-Salam Bank and enhancing future growth potential.

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