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02/06/2013 08:27 AST
United Gulf Bank B.S.C. (UGB), the merchant banking
subsidiary of the KIPCO Group, announced that it had received regulatory approval
from the Central Bank of Bahrain and the Malta Financial Services Authority to
acquire up to a 43.7% stake in FIMBANK p.l.c. (FIMBANK). FIMBANK’s shareholders
have also approved the transaction in the Annual General Assembly held in early
May 2013. UGB’s expected investment may reach up to USD 125 million over a
period of time.
FIMBANK is a Malta-based trade finance specialist institution that has successfully
made its mark on the international factoring sector by offering a complete portfolio
of factoring services and actively pursuing a strategy of establishing factoring joint
ventures with prominent institutions in selected emerging markets. It owns the UKregistered
London Forfaiting Company, together with factoring joint-ventures in
Russia, Romania, Brazil, India, Dubai, Egypt and Lebanon. It is listed on the Maltese
stock exchange.
Press Release
28/09/2017
Bahrain Bourse hereby announces the delisting of United Gulf Bank (UGB) from BHB’s mainboard market. Following to the Resolutions of the Extraordinary General Meeting held on 25/09/2017 and after rec
Bahrain Bourse
01/03/2017
UGB’s profit attributable to shareholders of the parent for 2016 decreased to $6.3 million compared to $11.2 million in 2015, with a similar decrease in basic earnings per share to 0.77 cents from 1.
CPI Financial
01/09/2015
United Gulf Bank (UGB) has announced the appointment of Hussain Lalani as the acting chief executive.
Mr Lalani, currently the chief financial officer, has been with the bank since 2002.
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