Mubasher: Ithmaar Bank denied on Monday plans to divest investment assets worth more than $1 billion from its core banking activities, according to a bourse filing.
Al Wasat newspaper quoted yesterday the bank’s CEO, Ahmed Abdulrahim, saying that the bank intends to divest investment assets.
Ithmaar Bank said it will establish a holding company that will own all of its shares, according to the Bahraini newspaper.
However, the bank’s statement said that the total investment assets which will be transformed to the non-banking company have not been set as it is subject to regulatory approval.
