Citigroup 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.
