Al Salam Bank buys stake in Boeing lease
Manama, June 5, 2012
Al Salam Bank Bahrain has acquired an equity stake in a new Boeing 777-300 ER on long-term lease to Emirates Airlines, which comes as part of the bank's objectives to diversify its investment portfolio.
Al Salam Bank Bahrain has identified this opportunity and successfully concluded the transaction despite the challenging global economic conditions. In line with the investment strategy, the bank will retain a sizeable stake of the investment in the proprietary portfolio and sell down the remaining portion to its investors who have shown great interest in the transaction.
"The bank is focusing on investment opportunities with a cash yield consistent with its current strategy," said chairman Shaikha Hessa bint Khalifa Al Khalifa. "This investment should provide periodical returns to the bank and its investors."
The bank had previously acquired a Boeing 777-200ER on lease to Malaysian Airlines. – TradeArabia News Service