Bahrain Commercial Facilities Company (BCFC) is looking at acquisitions and investment opportunities in Bahrain and outside, according to the company's top official.

"This is the last year of our current strategic plan and we have issued new floating rate bonds maturing in 2019 to raise $53 million," BCFC chief executive Dr Adel Hubail told the Gulf Daily News (GDN), our sister publication, on the sidelines of the company's annual general meeting.

"The group now has a very low leverage of 1.6 times thereby has significant capacity to expand and look for investment opportunities to further enhance shareholder value will be a focus of the next strategic planning cycle of 2016-2019," he said.

The AGM saw shareholder approval to cash dividend of 45 per cent of BD7.2 million ($18.9 million) paid up capital or 45 fils per share.

The company has posted total consolidated net profits of BD14.5 million, 11 per cent higher than BD13.1 million in 2013.

It represents a return of 14.3 per cent on shareholders' equity with earnings per share of 90 fils.

Chairman Abdulrahman Fakhro said the group's sustained growth and profitability reflects the clarity of its unique value proposition in the niche markets identified in all its businesses, synergy amongst all its business segments and continuity in its practices.

The company's consumer finance business, Bahrain Credit, achieved net profit of BD9.8 million and provided loans of BD115 million last year.

This has resulted in 14 per cent increase in company's interest generating loan portfolio year on year.

The credit cards offering 'imtiaz' strengthened its foothold to reach seventeen thousand active cards.

Building on this strong market penetration, Bahrain Credit introduced the Platinum Card to select clients.

The quality of underwriting remained a key priority for the company and the non-performing loans were controlled at 3.1 per cent of the portfolio.

In the automotive business, National Motor Company has registered a net profit of BD2 million. The financial results include the first full year's operating losses of BD1.3 million for its wholly owned subsidiary operating in Erbil, Kurdistan.

The company is closely monitoring the fluid situation in Iraq and taking proactive steps to protect its investment, Dr Hubail said.

In Bahrain, the company has actively pursued its brand focused strategy to enrich the overall car ownership experience of its customers.

The company's real estate division, T'asheelat Real Estate Services Company registered a record net profit of BD1.9 million.

The chief executive said T'asheelat Real Estate is building a diversified source of income through managing large land projects, acquiring selected investment properties with steady rental yields, and income from valuation and brokerage services.

Another division, T'asheelat Insurance Services Company has reported a net profit of BD813,000, having arranged in excess of eighteen thousand motor insurance policies.

"This was achieved through maintaining excellent relationship with insurance companies, developing closer ties with car dealers and providing valued added services to customers, who have responded with higher renewal rates," Dr Hubail said. - TradeArabia News Service