International Investment Bank Announces Successful Exit From Aircraft Investment, Achieving 18 Percent IRR
International Investment Bank, an Islamic wholesale investment bank based in the Kingdom of Bahrain, announced a successful exit from its investment in an Airbus wide-body aircraft leased to a European airline, which generated an IRR of 18%.
The Bank, which is owned by major investors from the UAE, Saudi Arabia, Kuwait and Bahrain, also announced the opening of Swissotel Sarajevo. The hotel is part of the Sarajevo City Center (SCC) development, a state-of-the-art mixed-use real estate complex in the capital of Bosnia and Herzegovina comprising a mall, officer tower and a 5-star branded hotel. The hotel has 21 floors and 218 rooms, 40 of which are apartments, with spacious rooms that offer a panoramic view of the city and surrounding mountains.
UAE-based IIB Chairman HE Saeed Abdul Jalil Al Faheem said: “We are in the process of recalibrating our strategy to ensure investor and shareholder value is enhanced. The launch of Swissotel Sarajevo and the Airbus exit are both in line with this strategy.”
IIB Acting CEO Fareed Bader added: “We are pleased to have concluded the aircraft transaction which builds upon IIB’s successful track record in this sector. It is the third successful aircraft transaction concluded by the bank and is in line with our strategy to generate exits and enhance the bank’s liquidity position.”
Incorporated in the Kingdom of Bahrain in October 2003, International Investment Bank B.S.C. (c) (IIB) is an Islamic wholesale bank that has been involved in investments worth more than USD 3.0 billion since its inception. Regulated by the Central Bank of Bahrain, its shareholders are high net worth individuals, business houses and institutions from the GCC states. IIB undertakes two core business activities – private equity and real estate.
International Investment Bank
International Investment Bank (IIB) was incorporated in Bahrain in October 2003 as an Islamic investment bank, with an authorized capital of US$ 200 million and a paid up capital of US$ 43 million.
In December 2007, IIB concluded a combined rights issue and private placement offering that has increased the issued share capital to US$ 110 million and total shareholders’ equity in excess of US$ 200 million. The Bank’s shareholders are high net worth individuals, business houses and institutions from the GCC states. The Bank undertakes two core business activities - private equity and real estate - and aims to offer its clients an internationally diversified range of investments generated through its network of strategic partnerships. It has been involved in investments worth more than USD 2.4 billion including debt and other investors equity since its inception.
Buy credits to publish your articles on Al Bawaba Biz here