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HSBC to sell Bahrain retail banking operations as restructuring progresses

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HSBC on Tuesday agreed to sell its retail banking operations in Bahrain to Bank of Bahrain and Kuwait (BBK) amid a global restructuring at the bank.
HSBC has agreed to sell its retail banking business in Bahrain to Bank of Bahrain and Kuwait (BBK) as part of its strategy to streamline operations and focus on core markets. The deal includes HSBC's personal banking, wealth management, and small business banking operations, but excludes its wholesale banking business. The transaction, which is subject to regulatory approval, is expected to be completed by the end of 2024. This move follows HSBC's broader strategy to divest from less profitable regions to concentrate on Asia, where it sees significant growth potential. BBK, on the other hand, aims to expand its market share in Bahrain through this acquisition.

Read the Full Reuters Article at:
[ https://www.reuters.com/business/finance/hsbc-sell-bahrain-retail-banking-unit-bank-bahrain-kuwait-2025-02-18/ ]