Press Release
Barwa Bank, Qatar's fastest growing Shari’ah compliant banking service provider has announced its financial results for the period ended June 30, 2013.
Profits were QAR 303.6mn for the six months ended June 30, 2013 up from QAR 162.9mn in the same period of last year, an 85% improvement.
Return on Equity increased from 6.6% to 11%, with Earnings per Share increased from QAR 0.55 to QAR 1.01 on the back of a 10% increase in total assets to QAR27.8bn.
Barwa Bank, Qatar's fastest growingShari’ah compliant banking group, held a sponsorship signing ceremony with Mashrou’ Al Baraha, an event organised by Qatar Charity from the third to nineteenth day of Ramadan at Aspire Zone aimed at educating families on the principles and virtues of Islam.
Attending the signing ceremony on Thursday 11th July was Mr.Steve Troop, CEO, Bawa Bank and Mr. Ibrahim Bin Abdullah Al Muhanadi, CEO Qatar Charity.
Nakilat increases its ownership in Maran Nakilat Co. Ltd.as the joint venture expands its fleet from four to six vessels with refinancing from QIB and Barwa Bank
Maran Nakilat Co. Ltd., a joint venture (JV) between Nakilatand Maran Ventures Inc., has secured Islamic refinancing worth US $662.4 million that will see the JV expand its fleet and Nakilat increase its ownership of the JV.
Barwa Bank, Qatar's fastest growing Shari’ah compliant banking service provider, today announced that it has won the EMEA Finance Achievement Awards 2012“Deal of the Year in the EMEA region (Europe, Middle East and Africa)” for its Joint Lead Manager role on the US$ 4bn State of Qatar Sukuk .
At its sixth annual Achievement Awards Charity Dinner held on 20th June 2013 in London, the international financial magazine EMEA Finance recognised the outstanding deal and marked Barwa Bank’s increasing presence in the Islamic Capital Markets.
GEMS Education, one of the largest K-12 private school operators in the world has partnered with The First Investor (TFI), (the investment banking division of Barwa Bank Group (BBG)), Qatar Insurance Company (QIC) and Tanween to fund the development of two private schools in Al Wakra to support the private education sector in Qatar.
Barwa Bank, Qatar's fastest growing Shari’ah compliant banking service provider, has been named the winner of Banker Middle East Industry Awards 2013 for “Best Islamic Bank”, “Best Sukuk Arranger” and “Fastest Growing Bank in Qatar”. Steve Troop, CEO, Barwa Bank was also recognised receiving the “Banker of the Year” award during the ceremony on 19th June at Jumeirah Emirates Towers, Dubai.
Barwa Bank, Qatar’s fastest growing Shari’ah compliant banking service provider, was the proud Silver Sponsor of Buddylicious, an exclusive cooking workshop organised by Stenden University Qatar and Event Management for 30 students from Best Buddies AlShafallah, on Sunday 9th June, 2013 at Al Jazi Compound, West Bay.
The First Investor QSCC (TFI) and Hines announced today the closing of a J.P. Morgan led bank syndicate to provide construction financing for the landmark mixed-use CityCenterDC (CCDC) project that is currently under construction in downtown Washington, D.C. The project is believed to be one of the largest downtown developments currently underway in the U.S.
Qatar Petrochemical Company (QAPCO), one of the leading industrial companies in the State, is pleased to announce having secured a 1.1 billion Qatari Riyals facility from Barwa Bank, one of the fastest growing banks in Qatar, at very competitive terms.
Over the coming years, QAPCO is planning a significant unprecedented expansion in terms of volume and size of its business and production.
The First Investor (TFI), the investment banking division of Barwa Bank Group (BBG) is pleased to announce the signing of a joint venture agreement with Project Management & Development Co. (PMDC), the first major initiative in the region that will invest in income-generating expatriate residential compounds in the Kingdom of Saudi Arabia.
Barwa Bank, Qatar's fastest growing Shari’ah compliant bank, has acted as Joint Lead Manager on Albaraka Turk Participation Bank’s (ABT) US$200m Tier 2 Sukuk. This transaction represents the first Sukuk Murabaha transaction issued in the international capital markets from Turkey.
Barwa Bank, Qatar's fastest growing Shari’ah compliant banking service provider, congratulates Ziyad Rahim, its Head of Market Risk, who recently broke the Guinness World Record for the Marathon Grand Slam in just 41 days, smashing the previous record of 324 days which stood for over six years.
The Board of Directors of Barwa Bank Group, Qatar's fastest growing Shari’ah compliant banking group, held its Board Meeting chaired by H.E Sheikh Mohammed Bin Hamad Bin Jassim Al Thani, Chairman and Managing Director of Barwa Bank.
The meeting follows the election of its new Board Members for the term 2013 – 2015 at the Annual General Meeting (AGM) on April 14, 2013. The meeting included a presentation from the Executive Management during which the Board of Directors were briefed on the Group's current performance, as well as the bank’s future plans for sustained growth.
Barwa Bank, Qatar's fastest growing Shari'ah compliant banking service provider, recently launched its first equity fund: “The First Investor GCC Equity Opportunities Fund (Q)”. The Fund manager is The First Investor, (TFI), the investment division of Barwa Bank Group.
The First Investor (TFI), the investment banking subsidiary of Barwa Bank Group has won the award for “Best Investment Fund”, one of the highly-regarded “Banker Middle East” Product Awards 2013: a special hand-over ceremony was held at Barwa Bank Group headquarters on Monday 22nd April.
TFI received the accolade from Banker Middle East for its TFI GCC Equity Opportunities Fund, a Shari’ah compliant equity fund focused on GCC Equities which TFI launched in November 2012 and attracted nearly 90 million Qatari Riyals during the first month of subscription.
Barwa Bank Group, Qatar's fastest growing Shari’ah compliant banking service provider, has been named the winner of Banker Middle East Product Awards 2013, for both Best Branch Design and Best Premium Islamic Card for a Platinum Credit Card.
Barwa Bank received the awards from CPI Financial on Monday 22nd April at the Barwa Bank Headquarters. Attending from Barwa Bank were Mr. Steve Troop, CEO, Barwa Bank and Mr. Hussain Al Abdullah, Head of Retail Banking.
Barwa Bank, Qatar's fastest growing Shari’ah compliant banking service provider, was the Official Banking Partner for the Arab Future Cities Summit 2013, “Smart Solutions for Sustainable Cities" which was held on 22nd - 23rd April, 2013 at St. Regis, Doha.
The bank was proud to support the second annual Arab Future Cities Summit, following the huge success of the 2012 event, which hosted over 300 delegates and provided an international platform for knowledge sharing about smart city concepts and technologies.
Barwa Bank, Qatar's fastest growing Shari’ah compliant banking service provider, is the proud Gold Sponsor of the ICC WCF 8th World Chambers Congress which is being held from 22-25 April 2013, at the Qatar National Convention Center (QNCC), Doha.
The three-day biennial congress, hosted for the first time in the Middle East, is organised by Qatar Chamber together with International Chamber of Commerce (ICC) and World Chambers Federation (WCF), and focuses on the theme ‘Opportunities for all’, as a converging point for major global issues currently affecting business.
Barwa Bank has announced its financial results for the period ended March 31, 2013, results that demonstrate strong continuing growth. .
Continuing growth momentum / trajectory
Total assets increased by 12.8% to QAR28.5 bn (QAR 25.3bn as at 31st December 2012), a growth in the customer financing portfolio to QAR 16bn vs QAR 15.3 bn as at the of 2012.
Sharp increases in revenues and profits
Following the AGM meeting held on April 14, Barwa Bank Group is pleased to announce the election of its new Board of Directors (for the term 2013-2015). The nine strong Board will be chaired by H.E. Sheikh Mohammed Bin Hamad Bin Jassim Al-Thani, and consists of the following members:
Chairman and Managing Director: H.E. Sheikh Mohammed Bin Hamad Bin Jassim Al-Thani
Vice Chairman: Mr. Abdulaziz Mohammed Hamad Al Mana
Barwa Bank Group held its Annual General Meeting (AGM) on the 14th April at which the financial results for 2012 were approved and a new Board of Directors was elected.
The Chairman, H.E. Sheikh Mohamad Bin Hamad Bin Jassim Al Thani, gave a detailed report on the bank's activities and highlighted the financial results achieved by the bank in 2012.
The Group recorded strong growth in both balance sheet and profitability, with Net Income for 2012 up by 41% at QAR345mn compared to QAR 244mn in 2011.
Barwa Bank Group, Qatar's fastest growing Shari’ah compliant banking service provider has announced its financial results for the year ended December 31, 2012.
The Group recorded strong growth in both balance sheet and profitability, with Net Income for 2012 up by 41% at QAR345mn compared to QAR 244mn in 2011.
Key features of the 2012 financial results
Continuing growth momentum / trajectory
Barwa Bank Group, Qatar's fastest growing Shari’ah compliant banking service provider, held its Business Excellence Awards Ceremony, honouring the group’s best performers at the Hilton Hotel on the 11th March.
Barwa Bank, Qatar's fastest growing Shari’ah compliant banking service provider, announced today that it has appointed Khalid al Subeai as Chief Executive Officer at its wholly-owned investment banking subsidiary, The First Investor QSC (TFI).
With more than eight years of Investment Banking experience and particular knowledge of the local and international markets, Al- Subeai, as Chief Executive Officer of TFI,is responsible for driving TFI’s strategy and day-to-day management.
Barwa Bank Group, Qatar's fastest growing Shari’ah compliant banking service provider, today announced that it has won the Islamic Finance News “Qatar Deal of the Year” for the State of Qatar US$4 billion Dual Tranche Sukuk as Joint Lead Manager and “Turkey Deal of the Year” for the Republic of Turkey US$1.5 billion Debut Sukuk as Co-Lead Manager.
Barwa Bank, Qatar's fastest growing Shari'ah compliant banking service provider, in the second and conclusive draw of “Transfer Your Liability” has announced three additional winners, with a total of six Retail Banking customers now having received 100,000 Qmiles throughout this highly successful promotion.
Barwa Bank, Qatar's fastest growing Shari’ah compliant banking service provider, celebrated National Sports Day with the Barwa Bank Group (BBG) 2k Fun Run and interdepartmental six-a-side football finals, with family and friends invited to join together and show their support, at Qatar Sports Club on Tuesday.
Barwa Bank, Qatar's fastest growing Shari’ah compliant banking service provider, prepares to launch a comprehensive staff fitness program on National Sports Day.
Intended to engage all Barwa Bank Group (BBG) employees in year round sports and physical activity, the initiative will carry on the spirit of National Sports day; encouraging regular physical activity and helping to promote a healthier life-style both in and outside the workplace.
Barwa Bank, Qatar's fastest growing Shari’ah compliant banking service provider, is supporting Ziyad Rahim, its Head of Market Risk as he attempts to enter into the Guinness Book of World Records by completing the Marathon Grand Slam in the fastest time.
Barwa Bank, Qatar's fastest growing Shari’ah compliant banking service providerhas announced its participation of USD 123mn in a Finance Facility for Qatar Petroleum International Upstream O.P.C, a fully owned subsidiary of Qatar Petroleum International Limited (QPI).
This Facility will be utilised to part finance Qatar Petroleum International Upstream O.P.C for its investment in Total’s operations in the Republic of Congo. The investment is through a share capital increase in Total E&P Congo resulting in QPI holding a 15% share of the company.