Capinnova Bank exits key retail transaction
Manama, March 19, 2013
Capinnova Investment Bank, the Shari’a compliant investment banking arm of Bahrain-based lender BBK, has announced successful exit from its debut transaction ‘Oasis Mall,’ the largest retail mall in Muharraq area of the Kingdom.
This was the bank’s debut transaction in June 2009; the development was worth $18.6 million with a total return on invested capital of 37 per cent, said a top official.
"This was the first deal for Capinnova after its inception and is compatible with the strategic areas of focus by the works of the Bank. We are pleased to express our pride in the completion of this project," remarked its CEO Jamal Hijres.
Capinnova Investment Bank has an authorized capital of $500 million and a paid-up capital of $151.5 million. Its core areas of business include private equity, asset management and corporate finance.-TradeArabia News Service