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22 April 2024

Finance House obtains 3-year loan from NBB

Officials from Finance House and National Bank of Bahrain at the loan signing ceremony (SUPPLIED)

By Staff

Abu Dhabi-based Finance House (FH) said in a press statement on Saturday that it had obtained a three-year revolving facility from National Bank of Bahrain.

The loan will be used to fund FH’s lending book and to meet general working capital requirements. The release, however, didn't mention the value of the loan.

Finance House Chairman Mohammed Alqubaisi said: "We are pleased to have secured this medium term funding from NBB which is one of the region's leading banks and a respected lender. Our ability to secure medium term funding from NBB is a glowing testimony to the solid financial standing of Finance House and reinforces the confidence & trust placed in us by our leading banking partners.

"Finance House will forge ahead with its strategy of measured growth in niche market segments and pursue a conservative approach to liquidity management, both of which have proved to be fundamental necessities in the past, and shall continue to be so in the future", added Alqubaisi.

National Bank of Bahrain, Country Head-UAE, Harshdeep S.Munjal, said: "National Bank of Bahrain has been conducting high quality business in the UAE for the last 28 years. Our predominant focus has been on building long term bilateral corporate relationships with highly respected organizations in the UAE. The recent Finance House facility is in sync with this strategy. We are looking forward to growing our asset base in the UAE, exponentially over the foreseeable future".

The signing ceremony took place at Finance House's headquarters in Abu Dhabi and was attended by Mohammed Alqubaisi, Chairman, Hamid Taylor, GM & TK Raman, GCFO of Finance House. National Bank of Bahrain was represented by Harshdeep S.Munjal, Country Head - UAE, Eyad Y.Sater, Abu Dhabi Branch Head.