BBK, Bahrain’s pioneer in retail and commercial banking, announced today the establishment of a Representative Office in Turkey located in the Levent area, the main business and financial district in Istanbul. The Bank has obtained the necessary authorisations and licences from the regulatory authorities in both Bahrain and Turkey for this purpose.

The opening of this new representative office will bring multiple benefits to both BBK and its clients, including the ability for the Bank to liaise with existing and prospective clients in the country and be closer to them, monitor local market developments, and to have direct liaison with the Turkish authorities.

Announcing the initiative, Mr. Reyadh Sater, BBK’s Chief Executive, said: “International expansion and diversification is part  of BBK’s strategy, and it is logical that we should look at Turkey, a very large and important market and trading partner for GCC countries, as a key location within our expansion strategy. Based on the Board of Directors’ approval of the expansion strategy, establishment of this Representative Office follows the natural execution of that strategy and is the first of many expansions planned. With this Representative Office, we will be able to forge closer relationships with our clients, financial institutions and other local enterprises which are involved in trade with Bahrain and the GCC. It is another important step towards deepening the commercial ties between the two countries This will in turn support companies in Bahrain with trade and investment activities in Turkey.”

BBK, has also recently announced the successful completion of its BD 100 million (US$265.3 million) capital raising exercise in the form of perpetual Tier1 Convertible Capital Securities.. The subscribed capital securities totalled BHD 86.098 million, which represents 86.1 per cent of the total offering. This capital increase will provide the base to fund the Bank’s strategic expansion initiatives both locally and globally including our exposures in Turkey.

BBK’s presence extends beyond the Kingdom of Bahrain; with a Branch in the State of Kuwait, four full-fledged branches in the Republic of India at Mumbai, Hyderabad, Aluva (Kerala) and New Delhi, a Representative office in Dubai, United Arab Emirates and now with this new addition, a Representative Office in Istanbul in the Republic of Turkey. The Bank, through its International Banking Department, covers an array of clients in countries where we do not currently have a physical presence. In addition, BBK is also present in other geographic locations through its wholly owned subsidiaries and affiliates.  ​