Bank of Bahrain and Kuwait Confirms its Acquisition of Ithmaar Bank’s Bahrain-Based Operations

In a statement issued on the Dubai Financial Market on the 14th of September 2020, Bank of Bahrain and Kuwait (BBK) and Ithmaar Holdings confirmed their plans for the potential acquisition of Ithmaar Bank’s Bahrain-based operations, along with specific assets of IB Capital, a subsidiary of Ithmaar Holding.

The plans, which are still in the discussion phase, are subject to due diligence by both BBK and Ithmaar Bank, as well as to regulatory and shareholder approvals.

This statement followed the announcement of a possible acquisition of Ithmaar Bank by BBK that was made on the 26th of August 2020.

Murad Ali Murad, Chairman of BBK, stated th...