George_Marshall

Ahli United Bank acquires Citi’s Bahrain consumer banking business

Baker McKenzie has advised Bahrain-based Ahli United Bank (“AUB”) on its acquisition of Citi’s consumer banking business in Bahrain. The transaction, which signed earlier this year and received regulatory approval from the Central Bank of Bahrain, includes the retail banking, credit card and unsecured lending businesses of Citi throughout Bahrain. Citi’s consumer banking employees have also been offered employment by AUB. 
 
Manama-headquartered Ahli United Bank (AUB) was selected by Citi following a competitive auction process based on its strong growth strategy in consumer banking in Bahrain. With AUB’s business segments spanning retail banking, private banking & wealth management, corporate banking & treasury and Islamic banking, AUB is the largest bank in Bahrain. 
 
Baker McKenzie team was led by George Marshall (corporate partner, London, pictured), the corporate team comprised Melanie Howard (partner, London), Cristina Brown (senior associate, London), Ennio Keyte (associate, London), Tessa Schembri (trainee, London) and Fouad Ajawi (trainee, Bahrain), with specialist support from Sue McLean (partner, IP/tech, London), Rowena Baer (associate, IP/tech, London) and Richard Cook (senior associate, employment & benefits, London). 

Ahli United Bank acquires Citi’s Bahrain consumer banking business

suzan.taha@lcpublishinggroup.it

legalcommunitymena.com

Launched in 2022 by LC Publishing Group S.p.A., it is the first digital portal addressed to the Middle East North Africa market.

In terms of contents, the website focuses on both law firms and in-house legal departments, covering the latest news and rumors on deals and operations (and the related advisors) as well as on lateral hires, moves and new appointmens and providing insights, analytical data and opinions on the professions’ main trends and topics (AI, innovation, etc.).

For further information, please visit the Group’s website www.lcpublishinggroup.com

Legalcommunity MENA
LC Publishing Group S.p.A. – Via Tolstoi 10 – 20146 Milano – Tel. 0236727659 – C.F./P.IVA 07619210961
REA 1971432 Registro delle Imprese di Milano – Cap. Soc. Euro 50.000,00 i.v.

Copyright 2023 © All rights Reserved. Design by Origami Creative Studio

SHARE

Share on linkedin
Share on twitter
Share on facebook
Share on whatsapp
Share on email
Share on telegram