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(Manama, Tuesday June 28, 2011) Seera Investment Bank B.S.C.(c), a Shari’a compliant investment bank headquartered in Bahrain, won the Banker Middle East Fastest Growing Bank in Bahrain award in a ceremony held in Dubai. The award was based on the quantitative analysis of key measures such as total income, net profit, return on assets and annual growth.

According to CPI Financial who revealed the awards, rigor and greater transparency were introduced to the awards process through the undertaking of quantitative analysis to identify the region’s leading financial institutions.

Mr Abdulla Janahi, Seera’s Chief Executive Officer commented “It is reassuring for Seera to win this award especially given that it was based on the analysis of the Bank’s results which we feel lends a great deal of credibility to this recognition”

The award follows Seera reporting a net profit for the first quarter and a net profit for 2010 which reflect the performance of Seera’s investment portfolio and the fact that Seera is showing a very healthy trend of gradually improving financial results. Seera’s  investment portfolio although slightly impacted during the financial crisis, has shown a very good level of resilience during the crisis and excellent performance since then. 

Mr Janahi said “The award reinforces Seera’s position as a bank that has been able to navigate through the financial crisis with minimal impact and emerge with strong fundamentals and a profitable outlook”

On Seera’s investment approach he said “Seera’s strategy is to invest in companies with strong fundamentals, a strong management team, being in an industry which is not highly cyclical. This strategy has seen Seera through the worst financial crisis and the subsequent challenging global economic environment with most of its investments not only holding their value but with some showing remarkable growth in their earnings.”

A week ago Seera announced the sale of BWA Water Additives (BWA), a UK based company in a transaction valuing the company at around $ 300 million. The sale has generated a total return on investment of around 70% over a holding period of slightly over two and a half years with an IRR of around 20%.

Commenting on Seera’s recent exit Mr Abdulla Janahi, Seera’s Chief Executive Officer said “BWA is a good example of our investment approach. The company was acquired just before the onset of the financial crisis and Seera worked in close partnership with company management to mitigate the impact of the crisis and to grow its business. The successful exit demonstrated Seera’s ability to create value during this exceptionally challenging investment holding period.”

Finally Mr Janahi said “We are delighted with this award and feel that it reaffirms Seera’s long term focus and its prudent and diligent investment approach”

Seera has investments in the industrial manufacturing and transportation sectors in addition to smaller investments in the utilities and real estate sectors. The Bank’s investment strategy is to maintain a diversified investment portfolio geographically and industry wise, focusing on sectors underpinned by strong fundamental demand, and to avoid speculation driven sectors.