BMB concludes repayment of a $17.4m legacy obligation
- Bahrain: Monday, January 07 - 2013 at 09:23
- PRESS RELEASE
Bahrain Middle East Bank (B.S.C) announced the full repayment of a $17.4m legacy debt obligation - together with interest - as inherited by the present management who took charge of the institution's affairs in early 2009.
During the phase of restructuring, the Bank has also simultaneously built a new foundation and operating platform that encompasses multiple business lines capable of delivering and producing diversified and sustainable sources of income and one that is relatively resilient to financial market volatility. This new business model has received recent recognition from Fitch with the institution's Outlook being notched up from "stable" to "positive". The Bank's current rating is its highest, in its entire history. With these positive developments, we look to the future with an increasing level of confidence and optimism".
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