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).