Mubasher: The leading subsidiary of Kuwait Finance House (KFH) in Turkey, Kuwait Turkish Participation Bank (Kuveyt Turk), on Tuesday announced the relocation of its Gulf operations and staff to Bahrain.
Following this move, Kuveyt Turk Bank will centralise its regional treasury activities out of Bahrain under the existing wholesale banking licence, according to a recent statement.
Kuveyt Turk has acted as a bridge for Turkish investors looking to expand internationally, namely in the GCC.
“At the end of 2016, Kuveyt Turk Bank had paid up Capital of TRY 2,787,322,000 and an equity of approximately $1.2 billion (TRY 4.2 billion), and is looking to expand its services in the GCC region over the next three years,” the statement noted.
