Bahrain’s Mumtalakat sees earnings jump 87% in 2025

Bahrain‘s sovereign wealth fund, Mumtalakat, said net earnings spiked by 87 percent in 2025, supported by the strong performance of subsidiaries such as McLaren Racing and Aluminium Bahrain.

Consolidated net profit attributable to shareholders rose to BHD593 million ($1.6 billion), from BHD317 million in 2024, Mumtalakat said in a statement.

Revenue gained 14 percent to BHD2.5 billion, driven by increased fair-value gains on investments related to McLaren. In September 2025 Mumtalakat and Abu Dhabi’s CYVN Holdings took full ownership of the British motor racing team for $5 billion.

Mumtalakat remains the majority shareholder, while CYVN has a non-controlling stake.

Aluminium Bahrain, owned 69 percent by Mumtalakat, reported an 18 percent jump in net profit to BHD219 million last year, thanks to elevated LME aluminium prices and all-time high production of 1.62 million metric tonnes.

Principal associates the National Bank of Bahrain (NBB) and Bahrain Telecommunications Company (Beyon) contributed BHD36.4 million and BHD24.8 million, respectively.

Mumtalakat owns a 49 percent stake in NBB and 37 percent in Beyon.

“The performance reflects the effectiveness of Mumtalakat’s strategic direction, as well as its role in enhancing the value of the assets in its portfolio,” chairman Shaikh Salman bin Khalifa Al Khalifa said in a statement.

Last year Mumtalakat moved ahead with implementing its long-term strategy by listing Silah Gulf on the Bahrain Bourse, launching Amana Healthcare Bahrain and a food park project in the country.

In April Bahrain moved to shield its economy from the fallout of the US-Israeli war with Iran, announcing a sweeping $19 billion package of loan deferrals and liquidity support for the financial sector.

GDP grew by 3.5 percent in 2025 in real terms, driven by a 4.1 percent expansion in non-oil sectors even as oil activity edged lower, official data released last month showed.

Further reading:

• Bahrain’s finances need help from wealthier neighbours
• UAE and Bahrain aluminium plants hit in Iranian attacks
• Iran war weighs on GCC aluminium output in March