BBK opens Turkey office

Manama: BBK announced yesterday it has opened a Representative Office in Turkey located in the Levent area, the main business and financial district in Istanbul. 

The move, according to the bank, would bring multiple benefits to both BBK and its clients, including the ability for the bank to liaise with existing and prospective clients in the country and be closer to them, monitor local market developments, and to have direct liaison with the Turkish authorities.

Announcing the initiative, Reyadh Sater, BBK’s Chief Executive, said: “It is another important step towards deepening the commercial ties between the two countries This will in turn support companies in Bahrain with trade and investment activities in Turkey.” 

BBK, has also recently announced the successful completion of its BD100 million (US$265.3m) capital raising exercise in the form of perpetual Tier1 Convertible Capital Securities. The subscribed capital securities totalled BD86.098m, which represents 86.1 per cent of the total offering. This capital increase will provide the base to fund the bank’s strategic expansion initiatives both locally and globally including our exposures in Turkey.