Bahrain
Bahrain: Citi to sell its consumer unit to Ahli United Bank
Citigroup Inc. agreed to sell its consumer-banking operations in Bahrain to Ahli United Bank BSC as part of the lender’s continued push to simplify.
The transaction includes Citigroup’s retail-banking, credit-card and unsecured-lending businesses, and excludes the firm’s institutional businesses, according to a statement. New York-based Citigroup said the deal is expected to close by the second half of the year, noting that Ahli United Bank was selected as part of a competitive auction process.
