Mubasher: The Bank of Bahrain and Kuwait (BBK) is working on increasing its presence in India as part of an expansion plan which entails hiking its capital to $45 million in the country, Bahraini newspaper Al Watan reported, citing the bank’s CEO Reyadh Sater as saying.
The bank has already opened four branches across India, Sater told the newspaper, highlighting that through its expansion plans, the bank aims to bolster commercial trade between Bahrain and India, as well as expand in promising markets.
The Bahrain-listed BBK recently reported an 8% increase in profits for the first quarter of 2017 to BHD 15.76 million ($41.54 million) compared BHD 14.59 million ($38.45 million) in Q1-16.
The bank recently announced opening its first representative branch in Turkey, as well as receiving a licence to establish and operate under a new company in the UK at $5.2 million in investments.
