Bank of Bahrain and Kuwait BSC announces the transfer of HSBC Middle East, Bahrain Retail Business to BBK.

19 Feb 2025

The Bank of Bahrain & Kuwait (BBK), a pioneer in retail and commercial banking, is pleased to announce it has entered into a binding agreement to acquire the retail banking operations of HSBC Bank Middle East, Bahrain Branch, further expanding its footprint in the financial sector.

The transaction, subject to regulatory approval, is expected to be completed in the fourth quarter of 2025. BBK will work closely with HSBC to enable a smooth transition for all customers and employees.

This strategic acquisition includes the transfer of all retail loans, deposits and accounts of c.76,000 HSBC Bahrain customers, along with their dedicated employees who support those customers. This move underscores BBK’s commitment to enhancing its retail banking and wealth management by offering and delivering unparalleled customer experiences.

As part of this acquisition, BBK aims to leverage its robust financial infrastructure and innovative banking solutions to seamlessly integrate HSBC’s operations. Retail customers of HSBC can look forward to continued excellence in service, enhanced product offerings, and access to BBK’s comprehensive suite of financial services.

“We remain deeply committed to fostering growth and supporting the economic development of the Kingdom of Bahrain. This acquisition aligns with our strategic vision of expanding our market presence and delivering value to our shareholders, customers, and the community at large.” commented Mr. Yaser Alsharifi, BBK Group Chief Executive, on the occasion.

“We are thrilled to welcome HSBC Bahrain’s retail customers and employees to the BBK family and commit to a seamless integration. This acquisition represents a significant milestone in our journey to maintain our leading position as Bahrain’s pioneer retail bank. We look forward to building on our legacy of excellence by providing our customers with the best banking experience.” added Mr. Alsharifi.