Latest news with #AlSalamBank
Zawya
13-06-2025
- Automotive
- Zawya
Bahrain: Al Salam Bank launches auto financing in collaboration with BYD
Al Salam Bank has announced the launch of a new and comprehensive auto financing offer for BYD vehicles powered by renewable energy, as part of a strategic partnership with BYD, a global leader in New Energy Vehicle (NEV) manufacturing. This collaboration introduces an innovative financing solution that covers all major costs associated with owning a vehicle during the initial years, offering clients a seamless financing experience. The offer, which runs until December 31, 2025, includes a variety of benefits which includes special price for all models, a three-year service package, one-year registration fees, battery warranty of 8 years or 200,000 kilometres, a vehicle warranty of 6 years or 150,000 kilometres, and a multi-year insurance coverage for three years. Al Salam Bank offers this package at competitive prices with monthly instalment amount starts from BD83 (terms and conditions apply), enabling clients to finance their vehicles including its related operating recurring expenses over the next 3 years through a convenient installment plan. Commenting on the occasion, Al Salam Bank head of retail banking Mohammed Buhijji said: 'This collaboration with BYD reflects our ongoing commitment to delivering integrated financing solutions that meet the aspirations of our clients and offer a flexible and practical banking experience. Providing a comprehensive offer that covers all costs associated with purchasing a vehicle allows our clients to own their cars with ease and convenience, which is the goal we strive for at Al Salam Bank through all our initiatives.' Mohammed Adel Fakhro, director of Fakhro Motors, the exclusive distributor of BYD in Bahrain, said: 'We are proud of our partnership with Al Salam Bank in introducing this exceptional offer, which reflects our mutual commitment to providing integrated solutions that simplify the process of owning BYD vehicles – a brand that represents the future of sustainable mobility. We are confident that this initiative will enable Al Salam Bank clients to enjoy an outstanding driving experience supported by a comprehensive range of services and flexible financing terms.' Copyright 2022 Al Hilal Publishing and Marketing Group Provided by SyndiGate Media Inc. (
Zawya
04-06-2025
- Business
- Zawya
Dubai-listed Al Salam Bank's AT 1 issuance raises $450mln
Al Salam Bank, a Shariah-compliant bank based in Bahrain, has raised $450 million in its Additional Tier 1 (AT1) capital issuance. The private placement drew substantial demand from investors in the region and overseas despite global market volatility, the company, which is dual-listed on the Bahrain Bourse and Dubai Financial Market (DFM), said on Tuesday. 'The overwhelming response to our USD 450 million AT1 capital issuance is a testament to Al Salam Bank's financial stability, market credibility and strategic direction,' said Rafik Nayed, Group CEO of Al Salam Bank and Managing Director of ASB Capital. Al Salam's investment banking arm, ASB Capital was mandated to advise and structure the issuance. The offering is part of the company's strategy to strengthen its capital base and support future growth plans. The company also looks to boost its position as a diversified financial group in the region. Since 2020, Al Salam has consistently increased its total equity by more than 65%, according to Nayed. (Writing by Cleofe Maceda; editing by Seban Scaria)
Trade Arabia
03-06-2025
- Business
- Trade Arabia
Al Salam Bank Bahrain closes $450m AT1 capital issuance
Al Salam Bank has announced the successful closure of its $450 million additional Tier 1 (AT1) capital issuance, reflecting strong investor confidence in the Bahraini bank's financial strength and long-term growth strategy. The issuance, which was structured as a private placement and advised by ASB Capital (the Group's asset management and investment banking arm headquartered in the DIFC), attracted substantial demand from regional and international investors. The AT1 Capital issuance forms a key initiative within the Group's broader financial optimisation strategy, enhancing its capital position to support future growth plans. Following market leading annual growth exceeding 35% across balance sheet metrics, the issuance was designed to further enhance the Group's financial standing and capitalization profile. The issuance also underscores the bank's commitment to sustainable growth and financial resilience, positioning it as a leading and diversified financial group in the region. The significant investor demand highlights the Group's ability to access liquidity from regional and global markets, reflecting strong investor confidence in the Bank's strategy and financial position. ASB Capital was mandated by Al Salam Bank to advise and structure the issuance. As part of its Capital Markets offering, ASB Capital provides innovative and tailored financing solutions to meet the evolving needs of clients by leveraging market expertise and strategic partnerships. Most recently, ASB Capital was also appointed as a joint lead manager by Bapco Energies in Q1 2025 for its $1 billion Sukuk issuance. Rafik Nayed, Group CEO of Al Salam Bank and Managing Director of ASB Capital, said: "The overwhelming response to our $450 million AT1 Capital issuance is a testament to Al Salam Bank's financial stability, market credibility, and strategic direction." "Since 2020, we have consistently increased our total equity by more than 65%, and this issuance further strengthens our capital base and enhances our financial agility to execute our ambitious growth aspirations," stated Nayed. "We have recently rolled out an aggressive growth strategy across all Group companies. We are confident that the Group is well positioned to continue creating sustainable shareholder value," he noted. Nayed highlighted ASB Capital's ability to attract substantial investor demand, despite global market volatility, spotlighting the team's capabilities in the Capital Markets space. "By focusing on efficient capital raising and tailored financing solutions, ASB Capital connects clients to a broad network of funding sources, enabling them to adapt to market conditions and achieve growth aspirations," he stated.
Zawya
03-06-2025
- Business
- Zawya
Al Salam Bank successfully closes $450mln AT1 capital issuance
Manama, Bahrain: Al Salam Bank (Bahrain Bourse trading code 'SALAM', Dubai Financial Market trading code 'SALAM_BAH') announced the successful close of its USD 450 million Additional Tier 1 (AT1) Capital issuance, reflecting strong investor confidence in the Bank's financial strength and long-term growth strategy. The issuance, which was structured as a private placement and advised by ASB Capital (the Group's asset management and investment banking arm headquartered in the DIFC), attracted substantial demand from regional and international investors. The AT1 Capital issuance forms a key initiative within the Group's broader financial optimization strategy, enhancing its capital position to support future growth plans. Following market leading annual growth exceeding 35% across balance sheet metrics, the issuance was designed to further enhance the Group's financial standing and capitalization profile. The issuance also underscores the Bank's commitment to sustainable growth and financial resilience, positioning it as a leading and diversified financial group in the region. The significant investor demand highlights the Group's ability to access liquidity from regional and global markets, reflecting strong investor confidence in the Bank's strategy and financial position. ASB Capital was mandated by Al Salam Bank to advise and structure the issuance. As part of its Capital Markets offering, ASB Capital provides innovative and tailored financing solutions to meet the evolving needs of clients by leveraging market expertise and strategic partnerships. Most recently, ASB Capital was also appointed as a joint lead manager by Bapco Energies in Q1 2025 for its USD 1 billion Sukuk issuance. Rafik Nayed, Group CEO of Al Salam Bank and Managing Director of ASB Capital, commented: 'The overwhelming response to our USD 450 million AT1 Capital issuance is a testament to Al Salam Bank's financial stability, market credibility, and strategic direction. Since 2020, we have consistently increased our total equity by more than 65%, and this issuance further strengthens our capital base and enhances our financial agility to execute our ambitious growth aspirations. We have recently rolled out an aggressive growth strategy across all Group companies. We are confident that the Group is well positioned to continue creating sustainable shareholder value.' Additionally, he stated: 'ASB Capital's ability to attract substantial investor demand, despite global market volatility, highlights the team's capabilities in the Capital Markets space. By focusing on efficient capital raising and tailored financing solutions, ASB Capital connects clients to a broad network of funding sources, enabling them to adapt to market conditions and achieve growth aspirations. In addition to Al Salam Bank's AT1 Capital issuance, the firm's Capital Markets pipeline includes mandates from regional financial institutions and institutional clients covering Sukuk, Tier 2 Capital, syndications, and other structured instruments.'
Arabian Business
02-06-2025
- Business
- Arabian Business
Al Salam Bank offers three dedicated ‘Eid ATMs' in key Bahrain malls
Bahrain's Al Salam Bank will operate special ATMs during Eid Al Adha celebrations. These dedicated ATMs for Eid 'Ayadi' withdrawals will be used in three major shopping malls in the country as a direct response of the bank to client feedback. For three days starting from 3 June, these special ATMs will be available at select locations in Marassi Galleria, City Centre Bahrain, and The Avenues Mall. Special Eid ATMs It will allow Al Salam Bank debit cardholders to conveniently withdraw new banknotes in smaller denominations, specifically BD1 and BD5, tailored to the festive gifting traditions during Eid. By placing these ATMs in strategic, high-traffic mall locations, the bank offers clients greater flexibility and convenience without the need to visit branches to withdraw new banknotes. It will also help reduce in-branch traffic during peak holiday periods. Each ATM will clearly indicate the available denominations, ensuring a smooth and user-friendly experience. Mohammed Buhijji, Head of Retail Banking at Al Salam Bank, commented: 'At Al Salam Bank, we remain focused on delivering meaningful solutions that enrich our clients' banking experience, particularly during important social and religious occasions. 'The introduction of dedicated Eid 'Ayadi' ATMs is a timely response to client demand and a continuation of our mission to provide efficient, convenient, and accessible services that complement our clients' lifestyles, and help reduce the need for branch visits during high-traffic periods.'
