The new division will be led Bruce Wade to fulfil a need for specialised financial restructuring advice for companies in Bahrain and the GCC markets with a primary focus on corporate clients in addition to selective commercial banking clients.
Wednesday 21, August 2019 BY KUDAKWASHE MUZORIWA
The National Bank of Bahrain (NBB) has launched a new financial restructuring business within the bank as part of its ongoing diversification and efforts to step up its participation as well as support for the local and regional markets.
The lender said that this includes acting as an independent advisor to companies facing challenges as well as for companies where NBB is a creditor.
Jean-Christophe Durand, the CEO of NBB, said that as part of the bank’s transformation, strengthening NBB’s presence and support for local as well as regional companies continues to be a central focus for the bank.
“There are numerous factors impacting companies today both in Bahrain and across the GCC and our new division will focus on helping them to navigate the current environment with the aim of putting their companies back on the path to growth and giving them the ability to resume making positive contributions to the local and regional markets,” said Wade.