Bahraini bank Arcapita on Sunday revealed a 50% year-on-year surge in net income for the full fiscal year of 2018, exceeding $12 million, the firm’s CEO said.
From January to December 2018, the shariah-compliant investor implemented four transactions with a total value of $400 million, Atif Ahmed Abdulmalik told Arabian Business in an interview.
“Over the short and medium terms, our main focus will be to expand our real estate portfolio in the US and regionally, and to continue to drive growth across our portfolio companies to execute on our growth plan and generate attractive returns for our stakeholders,” the CEO explained.
Regarding the company’s vision for 2019, Arcapita recently closed fundraising at a value of $100 million which will be used in boosting the bank’s footprint in various markets.
The Bahraini firm also forecast to carry out around three to four transactions this year at a combined value that ranges between $300 million and $400 million.
“This is generating demand for Sharia compliant goods and services and has led to a rapid growth within the Islamic economy,” the CEO indicated.
On Thursday, Arcapita uncovered plans to make new investments in Saudi Arabia especially in the leisure, wellness, and healthcare sectors in the coming period.