Bahrain’s Mumtalakat sovereign wealth fund targets foreign acquisitions to fuel expansion | The National

Bahrain’s Mumtalakat sovereign wealth fund targets foreign acquisitions to fuel expansion | The National:



"Bahrain’s sovereign wealth fund is targeting more acquisitions this year as it seeks to double its assets in the next five years.



Mumtalakat, which posted net profit growth of 11 per cent last year to 91.6 million Bahraini dinars (Dh892.5m), plans to grow its assets, which reached US$7.2 billion at the end of June.



Profit rose despite a 64.6 per cent increase in impairments at 34.4m dinars, the wealth fund said. Revenue grew 11 per cent to 1.2bn dinars."



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