Bahrain Islamic Bank’s Integration with National Bank of Bahrain is Proceeding Smoothly: BisB Chairman

Bahrain Islamic Bank (BisB)’s integration with National Bank of Bahrain (NBB) is proceeding smoothly, according to Dr Esam Abdulla Fakhro, Chairman of BisB.

Speaking at a BisB annual tech-driven event on the 6th of December 2020, Fakhro stated that the two Bahrain-based banks would provide a unified force, which would further lead to more robust economic growth in the country.

In January 2020, NBB acquired a 78.8% controlling stake in BisB, after previously owning 29.06%, according to media reports. The acquisition led to BisB becoming an Islamic banking subsidiary of NBB, and fully consolidating its financial position into NBB’s. The transaction was expected to strengthen both brands and improve the returns of both banks.

According to a statem...