Located on United Nations Crescent in Gigiri, Nairobi’s premier diplomatic area, the USD 30M project will feature an upper-upscale hotel integrated with high-end branded residences, a world-class fine-dining concept, and luxury spa facilities by a renowned international operator. Situated adjacent to the UN Office at Nairobi, as well as numerous embassies and global organizations, the development is designed to cater directly to diplomats, expatriates, corporate executives, and affluent global travellers requiring premium accommodation and lifestyle-oriented living.

Following the formalization of the MOU, both organizations are now progressing to the next phase of the project, securing affiliation with a globally recognized hospitality brand and finalizing the definitive hotel management and franchise agreements.

“The signing of this Memorandum of Understanding marks a significant milestone in Gulf Hotels Group’s strategy to expand our footprint across Africa. Kenya stands out as one of the region’s most promising hospitality markets, underpinned by robust economic fundamentals, expanding international connectivity, and rising demand for new, high-quality hospitality assets. Through this collaboration, we look forward to working closely with Silva Gigiri Ltd to bring to life a hotel and branded residence that embodies international standards, operational excellence, and lasting value creation. This expansion will be delivered through a third-party operating model, reinforcing GHG’s asset-light growth strategy as we extend our management platform across the continent,” Ahmed Janahi, Group Chief Executive Officer of Gulf Hotels Group, said.

“This strategic partnership represents a foundational step toward realizing our long-term vision for Silva Gigiri Hotel & Residence within one of Nairobi’s most prominent diplomatic districts. Our ambition is to create a destination that reflects the city’s growing role as a regional diplomatic, business, and investment hub while delivering lasting value for residents, guests, and stakeholders. Gulf Hotels Group brings extensive operational expertise, technical capabilities, and a collaborative approach that make them a strong strategic partner as we progress towards the next phase of the project,” Bishar Mohamed Muhamed, Chief Executive Officer of Silva Gigiri Ltd, added.

The project builds upon Silva Gigiri Ltd’s existing footprint in the diplomatic quarter, where it already operates the GLV Collection of boutique luxury residences. For Gulf Hotels Group, the venture represents a core component of its 2026–2030 growth strategy, which prioritizes the expansion of its third-party hotel management platform into high-growth markets across Africa and the Indian Ocean, where rising foreign direct investment and tourism continue to drive institutional demand for experienced hospitality operators.

Construction of the Silva Gigiri Hotel & Residence is scheduled to commence later this month, with a soft opening targeted for 2028. The planned mixed-use development will comprise approximately 250 units, including standard hotel rooms, studios, one- and two-bedroom residences, and premium penthouses. Reflecting modern corporate and leisure demands, the property will feature multiple dining venues, wellness and fitness facilities, executive co-working spaces, and a premium conference center specifically tailored for diplomatic, corporate, and MICE (Meetings, Incentives, Conferences, and Exhibitions) events. Furthermore, the project aligns with Kenya’s Vision 2030 for sustainable urban development, targeting LEED certification through eco-efficient construction and design practices.

The development follows a cooperation agreement between BisB and The BENEFIT Company, Bahrain’s leading innovator in fintech and electronic financial transactions. Built on the Data Driven Infrastructure, the Consumer Lending Marketplace provides a digital environment through which customers can explore tailored financing options and submit applications using the BenefitPay app.

Under the agreement, BisB will retain full and independent responsibility for evaluating applications, making financing and approval decisions, and managing subsequent customer relationships, in accordance with the Bank’s internal policies and applicable regulatory requirements. BENEFIT will provide the technical infrastructure, support the customer-facing digital journey, and facilitate the processing of financing applications.

“This partnership marks an important step in our journey to strengthen digital banking solutions, giving our customers easier and more flexible access to Sharia’a-compliant financing. By leveraging modern technology, we continue to enhance the banking experience in line with evolving customer expectations and the rapid development of the financial services sector,” Fatema AlAlawi, Chief Executive Officer of BisB, said.

“This collaboration reflects our commitment to digital innovation and our support for national efforts to build a more inclusive and advanced financial ecosystem. We will continue investing in initiatives that deliver practical and effective solutions for our customers, while contributing to the Kingdom’s progress towards a sophisticated digital economy.”

“We are pleased to welcome BisB to the Consumer Lending Marketplace through BenefitPay, reflecting our commitment to expanding Bahrain’s digital financial services ecosystem. Through the platform, we continue enabling financial institutions to reach a wider customer base through an integrated and seamless experience that simplifies access to financing solutions, supports innovation, and accelerates financial-sector transformation in line with the national vision for a more prosperous economy,” Abdulwahed AlJanahi, Chief Executive of The BENEFIT Company, said.

By becoming the first bank to offer this type of financing through the Consumer Lending Marketplace, BisB further strengthened its position as a digital-first institution focused on using technology to simplify customer interactions, broaden the reach of Sharia’a compliant financing solutions, and contribute to the ongoing development of Islamic banking in Bahrain.

Earnings per share of 19 fils (USD 5 cents) for the period is lower than 21 fils (6 cents) in the same period of 2025, or 2 fils higher than the normalised 2025 earnings per share of 17 fils (5 cents)

Total comprehensive income attributable to NBB’s shareholders for the six-month period decreased by 29% to BHD 24.3 million (USD 64.5 million) compared with 34.3 million (USD 91.0 million) in 2025. The decrease is attributable to the negative mark-to-market movements of the debt portfolio resulting from the geopolitical situation.

In the meanwhile, the bank has reported a net profit attributable to shareholders of BHD 22.5 million (USD 59.7 million) for the second quarter ended 30 June 2026, representing a record second quarter profit and 16% increase from BHD 19.4 million (USD 51.5 million) reported in the second quarter of 2025. The strong growth was driven primarily by higher net interest income, underscoring the resilience of the Group’s balance sheet and the strength of its core banking business.

Earnings per share increased to 10 fils (USD 3 cents) for the second quarter of 2026, compared to 9 fils (USD 2 cents) in 2025.

During the quarter, the Group reported a total comprehensive income attributable to NBB’s shareholders of BHD 37.3 million (USD 98.9 million) compared to BHD 13.9 million (USD 36.9 million) in the same period of 2025, representing a growth of 168%. The increase was primarily driven by favourable mark-to-market movements in the bond portfolio during the second quarter, as market conditions stabilised following the geopolitical-related volatility experienced in the first quarter.

The Group’s total equity attributable to shareholders stood at BHD 550.6 million (USD 1,460.5 million) as of 30 June 2026, a reduction of 6% compared to BHD 585.0 million (USD 1,551.7 million) as of 31 December 2025. The movement primarily reflects the distribution of BHD 56.4 million in year-end cash dividends for 2025, approved by shareholders at the Annual General Meeting during the first quarter, underscoring the Group’s continued commitment to delivering strong and sustainable shareholder returns. Equity was also impacted by temporary negative mark-to-market movements in the bond portfolio arising from geopolitical-related market volatility.

The Group’s total assets increased by 2% during the period to BHD 6,372.1 million (USD 16,902.1 million) compared to BHD 6,276.6 million (USD 16,648.8 million) recorded on 31 December 2025. The increase was mainly due to loans and advances registering a growth of 6% from December 2025, accompanied with a 12% increase in customer deposits.

Following the Group’s strong performance, the Board of Directors proposed to maintain an interim cash dividend of 10% of share nominal value, amounting to BHD 22.6 million and equivalent to 10 fils per share. The payment is subject to regulatory approval.

“The second quarter of 2026 demonstrated the resilience and stability of NBB. Against a backdrop of heightened regional geopolitical uncertainty and significant volatility across global financial markets, the Group delivered a 16% increase in attributable profit, reflecting the strength of our diversified business model, disciplined risk management and the confidence our customers continue to place in us,” Hala Ali Husain Yateem, Chairperson of NBB, said.

“These results reaffirm NBB’s ability to continue supporting Bahrain’s economy while consistently delivering sustainable value to our shareholders. They also demonstrate the strength of the Bank’s balance sheet, prudent capital management and the quality of our underlying earnings, all of which have enabled the Board to declare an interim cash dividend of 10%.

“Throughout this period, our priorities remained on safeguarding our customers, protecting the Bank’s financial strength, supporting our employees and ensuring uninterrupted service despite a challenging regional operating environment. The professionalism and dedication of our people once again demonstrated the resilience of our institution.”

Beyond our financial performance, we continued investing in the future of Bahrain through initiatives that develop national talent, expand opportunities for young people and strengthen our contribution to the communities we serve. During the quarter, NBB was also recognised as Bahrain’s Best Retail Bank by both Euromoney and the MEED MENA Banking Excellence Awards, reflecting our continued commitment to delivering an exceptional banking experience.

“While geopolitical developments continue to create uncertainty across the region, NBB enters the second half of the year from a position of strength. Our strategy remains unchanged: maintaining disciplined growth, preserving a strong balance sheet, managing risk prudently and creating sustainable long-term value for our shareholders while continuing to support the Kingdom of Bahrain and its economic aspirations.”

“NBB registered a growth of 31% in operating profit during the second quarter of 2026, a reflection of the Group’s sustained momentum across its regional business and the effectiveness of its client-focused banking strategy. The growth was also supported by a solid expansion of the Group’s balance sheet, with total assets increasing by 2% from the year-end levels, loans and advances rising by 6%, and customer deposits growing by 12%,” Usman Ahmed, Group Chief Executive Officer of NBB, said.

During the second quarter, we also announced 124 employee promotions across the Group, demonstrating our continuous investment in our talent. Furthermore, our standing in the Kingdom’s significant capital market initiatives was reaffirmed as we served as Joint Lead Manager and Bookrunner in the issuance of Bahrain’s USD 1 billion, 10-year international bond – a transaction that reflects the enduring confidence investors place in Bahrain’s economic direction. We also launched UK property finance solutions for our international clients, extending the scope of what NBB can deliver beyond its home market. For the remainder of the year, our focus remains on client service excellence and disciplined delivery across every geography and business of the Group.”

The promotional period from 15 to 21 August 2026 offers tickets starting from BHD 65 for a one-way Economy Class fare, inclusive of all taxes and surcharges. Passengers can take advantage of direct flights from Bahrain to Kuala Lumpur for travel between 29 September 2026 and 27 March 2027.

Gulf Air’s direct service to Kuala Lumpur commences on 29 September 2026, providing seamless access to one of Southeast Asia’s most vibrant destinations.

To make the experience even more rewarding, Gulf Air Holidays will offer a range of tailored travel packages designed around the race weekend, combining flights, accommodation, airport transfers, and race experiences for passengers travelling to Kuala Lumpur. Whether planning a dedicated Formula 1 getaway or an extended Malaysian holiday, passengers will be able to choose from flexible packages that suit different travel preferences and budgets, while enjoying the convenience of a seamless travel experience with Gulf Air.

Built for both adventure and relaxation, Kuala Lumpur offers an exciting mix of world-class attractions, renowned shopping destinations, diverse culinary experiences and rich cultural heritage. Passengers can discover iconic landmarks such as the Petronas Twin Towers, explore bustling markets and entertainment districts, enjoy family-friendly attractions, or extend their journey beyond the capital to experience the best of Malaysia. As title sponsor of the FORMULA 1 GULF AIR BAHRAIN GRAND PRIX 2026 IN MALAYSIA, Gulf Air is proud to connect fans and passengers directly to the heart of the action while providing a convenient gateway to the country’s many leisure experiences.

The promotional fares are valid for sale from 15 to 21 August 2026 and for travel between 29 September 2026 and 27 March 2027. Passengers can book the special fares through gulfair.com, the airline’s Worldwide Contact Centre, Gulf Air’s Bahrain Sales Office, or through authorised travel agents.

Abdulmohsen Rashed Al Rashed, Chairman, GFH, while commenting on the results said that the results said that the Bank has continued to balance growth across its core business lines with disciplined capital allocation, prudent risk management and the development of strategic partnerships across key regional and international markets.

“Looking ahead, the Board remains focused on supporting sustainable growth and long-term value creation for shareholders. While remaining mindful of evolving regional and global market conditions, we will continue to pursue selective opportunities, strengthen recurring income streams and invest in the capabilities required to enhance GFH’s competitiveness and reinforce its financial position, he added.

Hisham Alrayes, CEO and Board Member, GFH, said that the performance was supported by strong contributions from Wealth and Investment Management and Credit and Financing income, alongside disciplined management of the Bank’s Treasury and Proprietary activities

“The regional geopolitical environment and resulting market uncertainty have affected the financial and investment sector more broadly, influencing investor sentiment, market activity and the timing of transaction execution. Against this backdrop, GFH’s diversified income streams, geographic reach and prudent approach to capital, liquidity and risk management supported the Bank’s resilience during the period.

“Looking ahead to the second half of the year, we will remain focused on growing fee-generating assets, selectively expanding the financing portfolio and optimising capital deployment across our treasury and investment activities. We will continue to monitor market conditions closely while pursuing opportunities capable of generating recurring income and sustainable risk-adjusted returns.”

Earnings per share for the six-month period was US cents 2.21 compared to US cents 1.93 for the first half of 2025, an increase of 14.51%. Total comprehensive income attributable to shareholders was US$ 67.61 million for the first six months of the year compared with US$ 78.91 million in the same period in 2025, a decrease of 14.32%. Total income for the period was US$ 309.81 million, an increase of 4.40% from US$ 296.75 million year-on-year.  Consolidated net profit for the first six months of the year was US$ 76.57 million compared with US$ 69.72 million in the corresponding period of 2025, an increase of 9.83%. Total expenses for the six-month period were US$ 233.24 million compared with US$ 227.04 million in the same period of 2025, an increase of 2.73%. Total equity attributable to shareholders was US$ 1.01 billion on 30 June 2026 compared with US$ 1.02 billion on 31 December 2025, a drop of 1.31%. Total assets of the Bank were US$ 12.44 billion compared with US$ 12.20 billion on 31 December 2025, an increase of 1.97%.

Net profit attributable to shareholders was US$ 41.09 million for the second quarter of the year compared to US$ 37.10 million in the second quarter of 2025, an increase of 10.77% driven by strong growth in Wealth and Investment Management income and Credit and Financing income, which rose by 32.52% and 22.99%, respectively.

Earnings per share for the second quarter were US cents 1.19 compared with US cents 1.06 in the second quarter of 2025, an increase of 12.26%. Total comprehensive income attributable to shareholders was US$ 70.52 million for the second quarter of 2026 versus US$ 51.71 million in the second quarter of 2025, an increase of 36.38%. Total income was US$ 158.82 million for the second quarter of the year compared with US$ 146.04 million in the second quarter of 2025, an increase of 8.75%. Consolidated net profit for the second quarter was US$ 42.23 million compared with US$ 39.02 million in the second quarter of 2025, an increase of 8.22%. Total expenses for the quarter were US$ 116.59 million compared with US$ 107.02 million in the prior-year period, an increase of 8.95%.

GFH currently manages assets and funds valued at approximately US$ 24 billion, including a global investment portfolio spanning the GCC, the United States of America and Europe, across sectors including industrial and logistics, healthcare, education, technology, infrastructure and real estate.

“The results achieved during the first half of 2026 demonstrate the resilience of GFH’s diversified business model and the progress being made in strengthening its position as an integrated banking and investment institution,” Abdulmohsen Rashed Al Rashed, Chairman, GFH, said.

“The Bank has continued to balance growth across its core business lines with disciplined capital allocation, prudent risk management and the development of strategic partnerships across key regional and international markets.

“Looking ahead, the Board remains focused on supporting sustainable growth and long-term value creation for shareholders. While remaining mindful of evolving regional and global market conditions, we will continue to pursue selective opportunities, strengthen recurring income streams and invest in the capabilities required to enhance GFH’s competitiveness and reinforce its financial position.”

“GFH delivered net profit attributable to shareholders of US$76.20 million during H1 2026, while total income reached US$309.81 million. Performance was supported by strong contributions from Wealth and Investment Management and Credit and Financing income, alongside disciplined management of the Bank’s Treasury and Proprietary activities,” Hisham Alrayes, CEO and Board Member, GFH, said.

“The regional geopolitical environment and resulting market uncertainty have affected the financial and investment sector more broadly, influencing investor sentiment, market activity and the timing of transaction execution. Against this backdrop, GFH’s diversified income streams, geographic reach and prudent approach to capital, liquidity and risk management supported the Bank’s resilience during the period.

“Looking ahead to the second half of the year, we will remain focused on growing fee-generating assets, selectively expanding the financing portfolio and optimising capital deployment across our treasury and investment activities. We will continue to monitor market conditions closely while pursuing opportunities capable of generating recurring income and sustainable risk-adjusted returns.”

“The performance reflects BDB’s ongoing implementation of its strategic priorities and the strength of its business operations amid prevailing regional conditions. This was underpinned by effective portfolio management, greater operational efficiency and a diverse range of financial products and services designed around the needs of SMEs, reinforcing the Bank’s contribution to Bahrain’s economy and sustainable development,” the Bank in a statement, said.

Net profit attributable to the owners of the Bank stood at BD 793,000 for the six months ended 30th June 2026, decreasing 18% from BD 965,000 recorded during the first half of 2025. This was primarily due to lower recovery income and a reduction in net interest income and profits from Islamic financing, partly mitigated by higher fee income, lower operating costs and a decrease in expected credit losses.

The Bank recorded a total comprehensive loss attributable to its owners of BD 2.6 million for the first half of 2026, compared with total comprehensive income of BD 1.3 million during the corresponding period of 2025. This movement was mainly attributable to a decline in the fair value of debt securities.

Equity attributable to the owners of the Bank amounted to BD 64.8 million as of 30th June 2026, compared with BD 67.3 million at the end of December 2025, representing a decrease of 4%. Total assets stood at BD 204.6 million, compared with BD 208.1 million as of 31st December 2025, reflecting a reduction of less than 2%.

“These results demonstrate the resilience of BDB’s business model and its ability to advance its strategy despite the challenging regional environment. Prudent portfolio management and a sustained focus on efficiency remain central to preserving our long-term capacity to support SMEs, which are a vital driver of the Kingdom’s economic growth. We will continue to develop more innovative financing solutions, deepen partnerships across the entrepreneurial ecosystem and help businesses build the scale and competitiveness needed to contribute to the Kingdom’s economic priorities. Through this approach, BDB will further strengthen its position as a trusted partner to the SME community and an important catalyst for national development,” Ghassan Ghaleb Abdulaal, Chairman of the Board of Directors of BDB, said.

 “Our priorities during the first half of the year centred on further boosting operational efficiency, managing risk effectively and evolving our propositions in response to the changing requirements of SMEs. We remain committed to building this momentum by investing in innovation, accelerating digital transformation and improving every stage of customer experience. Expanding our portfolio of specialised financing and non-financial services will enable us to deliver greater value to emerging entrepreneurs and established enterprises alike, while enhancing BDB’s contribution to sustainable economic development across the Kingdom,” Ms. Dalal Al Qais, Group Chief Executive Officer of BDB, added.

attributable to equity holders of the Bank for the three-month period ended 30 June 2026 of BD0.8 million, compared to the net profit of BD1.47 million reported for the same period in 2025. Total net profit for the three-month period ended 30 June 2026 was BD2.7 million, compared to BD3.33 million reported for the same period in 2025. The decrease is primarily attributable to lower benchmark rates impacting spreads generated by the Bank’s overseas operations.

The announcement, by Ithmaar Bank Chairman His Royal Highness Prince Amr Al Faisal, follows the review and approval of the Board of Directors of the Bank’s consolidated financial results.

“On behalf of Ithmaar Bank’s Board of Directors, I am pleased to report that the Bank continued to deliver stable profitability during the first half of 2026 despite a lower benchmark rate environment and the challenging market conditions,” said HRH Prince Amr. “The results reflect the resilience of the Bank’s business model and the continued strength of its core Islamic banking franchise in Bahrain and Pakistan. The Bank remains focused on sustainable growth, prudent risk management and enhancing the value of its strategic investments while navigating a changing economic landscape,” he said.

Ithmaar Bank Chief Executive Officer, Maysan Al Maskati, said the results demonstrate the Bank’s ability to effectively manage earnings pressures through disciplined balance sheet and funding management.

“While lower benchmark rates in our overseas operations continued to impact operating income compared to the previous year, the Bank remained profitable while maintaining stable liquidity position,” said Al Maskati. “Our continued focus on optimising the funding mix, enhancing low-cost deposit mobilisation and carefully managing funding costs helped mitigate the impact of the lower rate environment. These efforts have reinforced the resilience of our earnings profile and positioned the Bank to continue delivering sustainable long-term value.”

“The Bank’s fundamentals remain strong, supported by a stable funding base, prudent liquidity management and continued customer confidence,” said Almaskati. “We also continued to strengthen our balance sheet and enhance operational efficiency while maintaining our commitment to serving our customers and supporting economic growth in our core markets,” he said.

Deposit mobilisation initiatives and funding optimisation efforts remained key priorities during the period, supporting the Bank’s strategy of strengthening its funding base. As a result, total Quasi-equity increased to BD1.40 billion as at 30 June 2026 compared to BD1.32 billion as at 31 December 2025, an increase of 6.5 per cent reflecting the Bank’s continued focus on customer liabilities growth and sustained customer confidence.

“Looking ahead, we remain focused on growing our core businesses, strengthening customer relationships and pursuing opportunities that support sustainable profitability and shareholder value creation,” said Al Maskati. “Supporting our ambitious future strategy, the Bank is well positioned to navigate changing market conditions and capitalise on opportunities as they arise.”

Marek brings extensive international experience in internal audit and financial services, spanning investment banking, commercial banking, wealth management and asset management across the UK, Asia and North America. He joins Bank ABC from Lloyds Banking Group, where he most recently served as Chief Internal Auditor of Lloyds Bank Corporate Markets. He has previously held senior audit leadership roles at UBS Securities and Bank of America Merrill Lynch, as well as earlier roles at ANZ Banking Group.

“Marek brings deep expertise in internal audit and extensive experience across major financial institutions and markets. His appointment will further strengthen our Internal Audit function and its contribution to the Group as we continue to deliver on our strategic priorities. I look forward to welcoming Marek to Bank ABC and working closely with him,” Paul H. Jennings, Group Chief Executive Officer of Bank ABC, said.

“I am delighted to be joining Bank ABC and to have the opportunity to work with colleagues across the Group. I look forward to bringing my experience to the role, building strong relationships across the organisation, and providing constructive challenge and insight in support of the Group’s continued progress and ambitions,” Marek Michalski said.