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BBK to buy Ithmaar Bank in BahrainMENA

BBK to buy Ithmaar Bank in Bahrain

The Bank of Bahrain and Kuwait (BBK) is in talks with Ithmaar Holding to potentially buy Ithmaar Bank in Bahrain, including its subsidiary IB Capital.

BBK already has the largest commercial banking network in Bahrain, and it seems that its ambitions are to grow even larger and to diversify its offering (to include Islamic-focused products) in the country.

why it matters
The banking industry in MENA is a crowded space and consolidation amongst banks has taken place in the last few years across the region. Notable recent mergers include National Bank of Abu Dhabi and First Gulf Bank (to create FAB) in the UAE and the ongoing merger discussions between National Commercial Bank and Riyad Bank in Saudi Arabia.