HSBC announced on 18 February 2025 that it had reached an agreement to sell its retail banking operations in Bahrain to the Bank of Bahrain and Kuwait, a lender majority owned by the governments of Bahrain and Kuwait. The transaction covers the transfer of retail loans, deposits, and accounts belonging to approximately 76,000 customers currently served by HSBC's retail network in the country. Financial terms of the agreement were not disclosed.
The deal is expected to complete by the fourth quarter of 2025, subject to the customary regulatory approvals and conditions precedent.
SCOPE OF THE SALE
HSBC's corporate and private banking businesses are excluded from the retail sale agreement, meaning the bank retains a commercial presence in the market.
Customers of HSBC Bahrain's retail business will be transferred to BBK on completion of the transaction.
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