STANDARD Chartered has announced its intention to explore the sale of its wealth and retail banking (WRB) business in Bahrain, as part of a strategic move to sharpen its focus on core segments.
The bank confirmed that the decision will not affect its corporate and investment banking (CIB) business, which will continue to operate fully in the kingdom. The CIB division will maintain its role as a ‘super-connector’ by leveraging its international network, cross-border capabilities, and sector expertise.
The shift follows the group’s broader strategic focus on cross-border and affluent clients, a direction reaffirmed during its fiscal year 2025 financial results. Any potential transaction will be subject to regulatory approvals.
“As we sharpen focus on where we have scale and the most distinctive client proposition, we will invest further in response to strong client demand and long-term opportunity across the Middle East,” said Bongiwe Gangeni, head of wealth and retail banking for Europe, Middle East and Africa at Standard Chartered.
She noted that the transition is expected to be phased over a period of 18 to 24 months.
“During this period, our business will continue to operate on a business-as-usual basis, and we will work closely with colleagues, clients, regulators, and other stakeholders to ensure an orderly transition and minimal disruption,” Ms Gangeni added.
Standard Chartered reiterated its long-term commitment to the Middle East, stating it will continue to support regional clients through its corporate and investment banking franchise, international network, affluent wealth management capabilities, and Islamic banking offerings.
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