GULF INTERNATIONAL BANK B.S.C. ANNOUNCES STRATEGIC REALIGNMENT OF ITS RETAIL BANKING OPERATIONS IN THE KINGDOM OF BAHRAIN

TDT | Manama

Email: mail@newsofbahrain.com

Gulf International Bank B.S.C. (GIB or the Bank) received approval from the Central Bank of Bahrain to undertake the strategic realignment of its retail banking operations in the Kingdom of Bahrain, which will see the Bank exit its consumer retail banking services offered through meem digital banking by GIB in Bahrain.

As part of the realignment, the Bank will commence the orderly transition of its consumer banking operations, which forms part of GIB B.S.C.'s broader strategy that focuses on strengthening core business, enhancing operational efficiency and supporting long-term sustainable growth across the Group and the geographies it operates in.

The realignment does not impact the consumer banking and Private Banking business in Saudi Arabia, which remains a key growth platform for the Group's personal banking ambitions and continued digital innovation and expansion in the Kingdom of Saudi Arabia.

Bahrain remains central to GIB's business operations, and the Bank remains fully committed to the Kingdom and serving clients across its regional network with Corporate Banking, Global Transaction Banking and Treasury services.

meem customers in Bahrain will be supported during the transition process and will receive direct communications in due course that outlines the available options and next steps relating to their accounts.

GIB is working closely with the Central Bank of Bahrain to ensure the transition is conducted in an orderly, transparent and responsible manner, with customer interests remaining the priority throughout the process.