Bank of Bahrain and Kuwait in Preliminary Talks to Acquire Islamic Retail Lender Ithmaar Bank

Bank of Bahrain and Kuwait (BBK), a Bahrain-based commercial bank, has recently announced that it has initiated talks with Ithmaar Holding, the parent of Ithmaar Bank, on the potential acquisition of Ithmaar Bank's Islamic retail banking operations in Bahrain.

According to a statement released by Ithmaar Holding, the acquisition involves specific assets of IB Capital, which is one of Ithmaar Holding’s wholly-owned subsidiaries. If executed, the acquisition is expected to help expand BBK's operations in Bahrain by adding turn-key Islamic banking solutions, while positioning Ithmaar Bank to capitalise on more growth opportunities.

The plans are still in preliminary discussions a...