100% of Khaleeji Commercial Bank to be Bought by GFH Financial Group

Bahrain-based investment bank, GFH Financial Group (GFH), is planning to purchase 100% of Khaleeji Commercial Bank (KHCB) to enhance its portfolio and widen its operations. This was divulged in a regulatory filing on the 17th of October 2021, where GFH submitted an offer to the board of KHCB to acquire 21.03% of its shares GFH currently does not own.

Why it Matters?

It was stated that the acquisition of KHCB would provide GFH with access to a wider segment of clients and allow for a larger market share. KHCB's commercial registration and vocation as an Islamic retail bank will be maintained by GFH. KHCB will function as a subsidiary of GFH and continue to operate in its usual course of business. As regional economies emerge from the COVID-19 pandemic-...