Capinnova announces first quarter results

Capinnova Investment Bank, the Shari’a compliant investment banking arm of BBK, announced that the bank has reported a net profit of $743 thousands for the period ended 31st March 2012 as compared to net profit of $1.2m for the same period in 2011. The gross revenues for the first quarter in 2012 were $2.1m in comparison to $2.3m for the same period in 2011.

 

Mr. Abdul Kareem Bucheery, Chairman at Capinnova Investment Bank said, “We have reported a profitable first quarter of this year despite the difficult market conditions experienced by the banking sector in general and the investment banks in particular. We are committed to pursue our strategies and objectives to mitigate the negative impacts of the current difficult market conditions with a view to providing good investment and financing services to our clients.”

 

Capinnova announces first quarter results

 

“We will continue our relentless efforts to take advantage of investment opportunities available in the market and to strengthen our strategies and policies to achieve a good balance between returns and risks,” added Mr. Bucheery.

 

In this regard, Mr. Jamal Hijres, Chief Executive Officer at Capinnova Investment Bank confirmed: “At Capinnova, we have been diligent to focus on our key objectives which gave a reasonable return in spite of the difficult conditions in the market. In the current year, it is important for us to appropriately position Capinnova within the Islamic Banking sector.”

 

“Having shown profits during the first quarter of the year is relatively a good start for the Bank. We will double our efforts to pursue new horizons for our business activities to achieve growth in this fiscal year,” added Mr Hijres

 

Capinnova Investment Bank is a Shari’a compliant investment bank licensed by the Central Bank of Bahrain and is wholly owned by BBK. The bank is well capitalized with an authorized capital of $500m and a paid-up capital of $151.5m. The Bank’s core areas of business include private equity, asset management and corporate finance. Capinnova’s vision is to be a world class Islamic investment bank offering a range of high quality Shari’a compliant products and services to a diverse clientele including financial institutions, companies & establishments, high-net-worth-individuals and family businesses, regionally and globally.

 

The Bank’s mission is to become the Islamic investment bank of choice and a niche player, providing clients in the GCC and the MENA region with superior investment products aimed at building and sustaining shareholder value, whilst maintaining an optimal balance between risks and returns.

 

URL: http://www.ameinfo.com/capinnova-announces-quarter-results–300397



Capinnova backs Islamic banking summit

Capinnova Investment Bank, the Sharia-compliant investment banking arm of BBK, has confirmed its partnership at the 18th Annual World Islamic Banking Conference as gold strategic partner

‘We are proud to be associated with the conference as its gold strategic partner,’ said Capinnova chief executive Jamal Hijres.

‘The country remains a popular destination for foreign investors on account of its established regulatory practices, transparency and adherence to international standards.

‘We believe that Bahrain will continue to see strong growth in its financial sector.

‘Regional economies have helped raise the level of competition but Bahrain is still at the forefront and aptly retains its title as one of the largest financial centres in the region,’ he stated.

‘There are several opportunities to be tapped within the country to secure good returns and long-term sustainability.

‘We will continue to support such industry events where large groups of Islamic banking experts gather to propel the industry forward,’ Hijres added.-TradeArabia News Service

http://www.tradearabia.com/news/BANK_208321.html

Capinnova key sponsor

MANAMA: Capinnova Investment Bank, the Sharia compliant investment banking arm of BBK, has confirmed its partnership at the seventh Annual World Islamic Funds and Financial Markets Conference (WIFFMC 2011) as a Gold Strategic Partner.

WIFFMC 2011, the world’s most influential and pre-eminent gathering of leaders in the global Islamic funds and investments industry, will be held on September 26 and 27 at the Gulf Hotel in Bahrain.

Held in strategic partnership with the Central Bank of Bahrain, the WIFFMC 2011 will see key regulators, industry players and thought leaders engage in critical discussions that will focus on achieving international scale and creating a vibrant Islamic financial market and re-invigorating the Islamic investments industry.

“We at Capinnova Investment Bank are delighted to be the Gold Strategic Partners for the seventh Annual World Islamic Funds and Financial Markets Conference in Bahrain,” said Capinnova chief executive officer Jamal Hijres.

“We are confident about the Islamic finance industry’s future and Bahrain will continue to be one of the leading financial centre in the region due to the efficient regulatory policies adopted by the sector.

“A platform such as this enables the top experts in the industry to come together and propel the industry forward,” he added.

“Bahrain remains a popular destination for foreign investors on account of its established regulatory practices, transparency and adherence to international standards,” he said.

“There are several opportunities to be tapped within the country to secure good returns and long-term sustainability and forums such as this will ensure that we capitalise on these opportunities,” he added

WIFFMC 2011 is set to gather more than 400 global leaders in the international Sharia- compliant investments industry to engage in critical discussions that will seek to re-ignite growth in the Islamic funds and investments markets.

http://www.gulf-daily-news.com/NewsDetails.aspx?storyid=313816