trending Market Intelligence /marketintelligence/en/news-insights/trending/tefhtg4zcxtzsdwwhbaptg2 content esgSubNav
In This List

Al Baraka Group could offer shares in 2019 to fund overseas expansion, CEO says

Blog

Banking Essentials Newsletter: 7th February Edition

Case Study

A Bank Outsources Data Gathering to Meet Basel III Regulations

Podcast

Private Markets 360° | Episode 8: Powering the Global Private Markets (with Adam Kansler of S&P Global Market Intelligence)

Blog

Banks’ Response to Rising Rates & Liquidity Concerns


Al Baraka Group could offer shares in 2019 to fund overseas expansion, CEO says

Al Baraka Banking Group BSC could offer shares to finance its international expansion ambitions, Reuters reported, citing an interview of CEO Adnan Yousuf with Al Arabiya TV.

Yousuf said the offering could take place during or at the end of 2019 as the Bahraini group looks to expand in China, Indonesia, East Africa and Morocco, according to the Sept. 9 report. He noted that the bank issued $400 million in Islamic bonds, or sukuk, in 2017, which could cover some of the expansion expenses, the report added.

Al Baraka is nearly 75% owned by Saudi businessman Saleh Kamel, with the bulk of the remaining shares listed in Bahrain and Dubai, Reuters noted.