Syed Hussein Al -Qassab
The Bahrain Commercial Facilities Company, S.B., held its meeting of the regular general assembly to discuss the report of the Board of Directors on the company’s business and financial center for the fiscal year ending on 12-12-2024 and approved it, in addition to announcing a trend to open an Islamic window. The group achieved a net profit of 5 million Bahraini dinars compared to a net loss of 30 million Bahraini dinars per year before. The allocation of a net profit of the year was approved by distributing cash dividends to shareholders by 15% of the paid -up capital 3,021,427 Bahraini dinars, or 15 fils per share, on the date of April 16, 2025. The amount of 150,000 Bahraini dinars was allocated for donations and donations, in addition to recycling an amount of 1,862,337 Bahraini dinars, ahead of the stage. The amount of 300,000 Bahraini dinars is a reward for the members of the Board of Directors for the year 2024, after obtaining the approval of the Ministry of Industry and Trade, in addition to approval of the issuance of new bonds / bonds amounting to 50 million Bahraini dinars, and the conditions and requirements of their issuance by the Board of Directors, after the approval of the Central Bank of Bahrain. The Chairman of the Board of Directors, Abdul Rahman Fakhro, stressed that the group’s achievement is a net profit of 5 million Bahraini dinars, and it is expected that the current year will be better than last year as well. It has taken a number of strategic decisions to address stumbling in the past years as a result of the Korona pandemic, indicating that the company reduced the risks and obligations, in addition to the team’s vaccination with a number of competent department heads. He stressed that the company grew up by more than 46%, as it supported small and medium enterprises, in addition to developing the auto sector portfolio, noting that the wallet was distinguished, indicating that this led to a result of distinctive profits. With regard to the Islamic window, Bokhoh explained that opening the Islamic window is a joyful news to the facilities customers, as it will be launched in 2025 products that match Islamic law, so that the company is comprehensive to all citizens and residents, while maintaining the traditional way, allowing customers to choose the appropriate method for them. He explained that the early payment of funds and the cancellation of troubled loans, especially from the previous portfolio, has contributed to the decrease in the loan portfolio; This led to a decrease in the net benefits acquired. As for the total assets, in 2024 the group witnessed an increase of one million Bahraini dinars, as the total total assets reached 221 million Bahraini dinars, explaining that this is mainly due to a number of changes in the values of assets. In terms of liabilities, he pointed to the decrease in total liabilities from 118 million Bahraini dinars in 2023, to 115 million Bahraini dinars in In 2024, the group used excess torrents to pay its long -term loans during the year, with the aim of reducing interest expenses. He stressed that the group enjoys a strong liquidity in a financial lifting of 1.1, allowing the group to increase its borrowing in the future when needed to ensure projects and support financing. He announced the increase in the company’s property rights from 102 million Bahraini dinars in 2023, to 106 million Bahraini dinars in 2024, due to the net annual profit, as the return on property rights reached 5% with a profitability of 25 fils per share. He pointed to the increase in the assets of the group in the automotive sector, while the assets of the group remained in the real estate and insurance sectors as they were in 2023, while it witnessed a decrease in the financing sector. Bokhoh pointed out that the total cash profits, and the accumulated grant of the group since its foundation amounted to 135 million Bahraini dinars, at 670 fils per share, including the proposal of the distributions for the year 2024.
