RIYADH: Bahrain-based Ithmaar Holding’s shareholders have approved plans to sell some of the company’s key assets to Al Salam Bank, it said in a statement. The assets include Ithmaar Holdings’ ownership stake in both Bank of Bahrain and Kuwait and Solidarity Group Holding, as well as the consumer banking business of Ithmaar Bank. Upon the completion of the plans, the holding
Shareholders of Ithmaar Holding, a Bahrain-based holding company, yesterday approved plans to sell some of the company’s key assets in Bahrain to Al Salam Bank.
Ithmaar Holding, a Bahrain-based company, has reported a net profit, attributable to equity holders, of $38.6 million for FY 2021 compared to $41.72 million net loss the year before. Its total owners’ equity stood at $37.7 million, up a 156% over 2020.