Standard Chartered is exploring a potential sale of its wealth and retail banking business in Bahrain as the lender continues to streamline its operations and focus on areas where it sees stronger growth opportunities.
The bank said the review is limited to its Wealth and Retail Banking division in Bahrain and will not affect its Corporate and Investment Banking operations, which will continue serving clients in the Kingdom.
The move forms part of Standard Chartered’s broader strategy to concentrate on business segments where it has greater scale and a more distinctive market position, particularly in serving affluent and cross-border clients.
The bank said it remains committed to the Middle East and plans to continue investing in services that support growing demand for international banking, wealth management and cross-border financial solutions across the region.
Bongiwe Gangeni, Head of Wealth and Retail Banking for Europe, the Middle East and Africa, said the lender would continue to strengthen its presence in areas where it sees long-term opportunities and strong client demand.
Any transaction would be subject to regulatory approvals. Standard Chartered said any transition would be carried out gradually over an estimated period of 18 to 24 months, with banking services continuing as normal during that time.
The lender added that it remains committed to Bahrain through its corporate and investment banking franchise, as well as its wealth management and Islamic banking offerings, as it seeks to optimise its portfolio and support sustainable growth across its regional operations.
