In the latter part of 2019, the bank launched a new Financial Restructuring business as part of its ongoing diversification and efforts to step up its participation and support for the local and regional markets.
This major initiative by NBB fulfills 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. This includes acting as an independent advisor to companies facing challenges, as well as for companies where NBB is a creditor.
As part of NBB’s transformation, strengthening our presence and support for local and regional companies continues to be a central focus for the Bank. Looking at the needs of the market and where NBB’s experience and resources can best be deployed, the Financial Restructuring Division, with the right expertise and advice, plays an important role in supporting efforts by companies to restructure. Our team of experts work shoulder to shoulder with management teams to help them do what’s necessary to protect, maintain and unlock the value that exists within their businesses.
NBB understands the numerous factors impacting companies today both in Bahrain and across the GCC. Initial responses to this unique initiative in the marketplace have been gratifying, with requests from some of our existing customers, and many who do not yet have a relationship with NBB. The new division focuses 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.