Prime Highlights
- Standard Chartered’s corporate and investment banking operations in Bahrain remain unaffected by the planned sale.
- The transition is expected to take 18 to 24 months, subject to regulatory approvals, with no disruption to clients.
Key Facts
- Standard Chartered is an international banking group with a strong presence across the Middle East through its cross-border network and Islamic banking offerings.
- The planned sale covers only the wealth and retail banking segment in Bahrain and does not extend to corporate or investment banking operations.
Background
Standard Chartered has announced its intention to explore the sale of its wealth and retail banking business in Bahrain, as the group sharpens its focus on segments where it holds the greatest scale and most differentiated client proposition.
The move does not affect the bank’s corporate and investment banking operations in Bahrain, which will continue to function through its international network, cross-border capabilities, and sector expertise.
Bongiwe Gangeni, Head of Wealth and Retail Banking for Europe, the Middle East and Africa at Standard Chartered, said the bank will invest further across the Middle East in response to strong client demand and long-term opportunity. He added that the transition is expected to take place over 18 to 24 months, subject to regulatory approvals, with business continuing on a normal basis throughout the period.
In addition, the bank has expressed that it will collaborate with its partners, customers, regulatory authorities, and other concerned parties to ensure a smooth transition with minimum disruptions.
This is in line with the group’s strategy concerning cross-border and affluent clients, reaffirmed in the group’s FY2025 results. Any potential transaction remains subject to regulatory approvals.
Standard Chartered said it sees significant long-term opportunity across the Middle East and will continue supporting clients through its Corporate and Investment Banking franchise, Affluent Wealth Management capabilities, and Islamic banking offering.
