Manama, Kingdom of Bahrain: Bahrain Middle East Bank (“BMB”), announced that in line with the commitment of its new major shareholders to upscale the Bank’s operations and its commitment to the Kingdom of Bahrain, the Bank has successfully concluded a Rights Issue, duly approved by its Shareholders at its meeting held on 22 October 2017.
Accordingly, the issued and paid up capital has increased to USD 100 million, thereby providing the right impetus to its operations as a wholesale bank in the Kingdom, which seeks to expand and diversify its business.
The Bank under its new major stakeholders has successfully garnered its Treasury role and the infrastructure required thereof. Technological transformation coupled with operational expansion is the key focus of the Bank. The management also seeks to enhance its capital tier base through financial products.
Korhan Alev, Chief Executive Officer, BMB, stated that “the successful culmination of the Rights Issue enhanced the Bank’s Issued and Paid-up Capital and denotes the on-going commitment of the new major Shareholders to the Bank. This not only reinforces the commitment of the management and staff at the Bank, but flows over the reassurance of its Investors, Clients, Central Bank of Bahrain and other Regulatory authorities. This will certainly enable the Bank to steer its course with good tailwinds.”
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About BMB
BMB is one of the foremost Wholesale Banks to be set-up in the Kingdom of Bahrain in 1982 and offers services in areas of:
- Treasury and Capital Markets
- Trade Finance
- Institutional Banking
- Corporate Banking
- Private Banking
- Portfolio and Asset Management
- Private Equity Fund Investments
- Financial Advisory and Structured Products
BMB’s operations are backed by a network of relationships amongst Top Tier Global Financial Institutions, Asset Managers, Trade Finance Specialists and Investment Banks in the MENA region. For more information, visit us at www.bmb.com.bh .
© Press Release 2018
