Al-Salam Bank (Sudan) to list its shares in the Dubai Financial Market start June
Al-Salam Bank- Sudan declared that it will list its shares in the Dubai Financial Market, and they will be put into circulation on Thursday, June 5th 2008, after the bank received the approval of the Emirates Securities and Commodities Authority for the inclusion of its shares in the Emirati financial markets.
Al Salam Bank�s shares will be listed in the said market during a great ceremony to be held in the Dubai Financial Market, in the presence of the members of the board of directors and the director general of Al-Salam Bank, Issa Kazem Chairman of the Dubai Financial Market, in addition to many members of the Executive Administration of Al-Salam Bank and the Dubai Financial Market.
Hussein Mohammed Al-Meeza, Vice Chairman declared: "The listing of the shares of Al-Salam Bank- Sudan, in the Dubai Financial Market, with the scope of the bank�s strategy aiming at enhancing its position and its strength among the Arab financials, and consolidating its regional and international presence, as the bank�s directors seek to facilitate the circulation process for the shareholders in the UAE and the other states of the region, but also to grant them the freedom of selection for circulation in many financial markets, according to their priorities and interests." Al Meeza added: "Al-Salam Bank- Sudan is one among the most important banks in Sudanese market, and it recently made huge steps, as its headquarter was moved to the capital Downtown (Khartoum). Accordingly, a comprehensive study was prepared in order to open many branches for the bank during the current year in many locations in Sudan. Furthermore, many automatic banking machines will be commissioned in key places in the Sudanese capital and other main cities." He explained: "Al-Salam Bank (Sudan) will keep on offering the best bank services which will keep pace with the economic developments in Sudan, so that it contributes to enhance the pillars of the Sudanese economic growth." Al-Salam Bank (Sudan) is considered among the most important banks, with respect to the capital in the Khartoum market of financial papers, and among the most eminent banks operating in the Sudanese market, throughout its innovative and excellent bank services. The bank constitution came as a fruit of an Emirati- Gulf- Sudanese cooperation; as its operations started up on May 25th 2006, with a capital of 100 million dollars.
The results of the bank for the year 2007 show record results, despite its recent presence in the Sudanese bank market, as the bank managed to achieve the aimed balance between the investment returns and the investment risks and it contributed to achieve high growth rates against the minimum possible of risks. Within the scope of the evaluation of the bank performance, it managed to achieve brilliant results in the central Sudanese bank, for the preventive control for the last quarter of the year 2007, according to CAEL indicators, since it obtained a strong classification, which is regarded as one of the greatest achievements of the bank.
The big bank investments during the year 2007 resulted in good returns, achieving a profit of 30 Million Dollars against 25 million during the year 2006, including the share of depositors from profits which reached 7.4 Million Dollars against 7 Million for the year 2006. In addition, it achieved a net profit for shareholders, which reached 12.3 dollars after the deduction of zakat and taxes. As for the property rights, they reached 149 Million Dollars with a growth rate of 8% for the year 2006.
The ordinary general assembly, held in Khartoum on 23/3/2008, declared the distribution of the monetary profits among shareholders, at a rate of 10%.
/WAM/
Al Salam Bank�s shares will be listed in the said market during a great ceremony to be held in the Dubai Financial Market, in the presence of the members of the board of directors and the director general of Al-Salam Bank, Issa Kazem Chairman of the Dubai Financial Market, in addition to many members of the Executive Administration of Al-Salam Bank and the Dubai Financial Market.
Hussein Mohammed Al-Meeza, Vice Chairman declared: "The listing of the shares of Al-Salam Bank- Sudan, in the Dubai Financial Market, with the scope of the bank�s strategy aiming at enhancing its position and its strength among the Arab financials, and consolidating its regional and international presence, as the bank�s directors seek to facilitate the circulation process for the shareholders in the UAE and the other states of the region, but also to grant them the freedom of selection for circulation in many financial markets, according to their priorities and interests." Al Meeza added: "Al-Salam Bank- Sudan is one among the most important banks in Sudanese market, and it recently made huge steps, as its headquarter was moved to the capital Downtown (Khartoum). Accordingly, a comprehensive study was prepared in order to open many branches for the bank during the current year in many locations in Sudan. Furthermore, many automatic banking machines will be commissioned in key places in the Sudanese capital and other main cities." He explained: "Al-Salam Bank (Sudan) will keep on offering the best bank services which will keep pace with the economic developments in Sudan, so that it contributes to enhance the pillars of the Sudanese economic growth." Al-Salam Bank (Sudan) is considered among the most important banks, with respect to the capital in the Khartoum market of financial papers, and among the most eminent banks operating in the Sudanese market, throughout its innovative and excellent bank services. The bank constitution came as a fruit of an Emirati- Gulf- Sudanese cooperation; as its operations started up on May 25th 2006, with a capital of 100 million dollars.
The results of the bank for the year 2007 show record results, despite its recent presence in the Sudanese bank market, as the bank managed to achieve the aimed balance between the investment returns and the investment risks and it contributed to achieve high growth rates against the minimum possible of risks. Within the scope of the evaluation of the bank performance, it managed to achieve brilliant results in the central Sudanese bank, for the preventive control for the last quarter of the year 2007, according to CAEL indicators, since it obtained a strong classification, which is regarded as one of the greatest achievements of the bank.
The big bank investments during the year 2007 resulted in good returns, achieving a profit of 30 Million Dollars against 25 million during the year 2006, including the share of depositors from profits which reached 7.4 Million Dollars against 7 Million for the year 2006. In addition, it achieved a net profit for shareholders, which reached 12.3 dollars after the deduction of zakat and taxes. As for the property rights, they reached 149 Million Dollars with a growth rate of 8% for the year 2006.
The ordinary general assembly, held in Khartoum on 23/3/2008, declared the distribution of the monetary profits among shareholders, at a rate of 10%.
/WAM/
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