Standard Chartered to Divest Bahrain Retail and Wealth Operations

The proposed exit follows a multi-year trend of divestments across Africa and the Middle East, as the bank prioritizes regions where it maintains significant scale. Bongiwe Gangeni, head of wealth and retail banking for Europe, the Middle East, and Africa, confirmed that the transition will span 18 to 24 months. During this period, the business will continue to operate as usual, pending necessary regulatory approvals.

This decision aligns with the group’s broader policy of shedding retail units in favor of corporate, institutional, and affluent client segments. Similar exits have already concluded in Tanzania, Gambia, Cameroon, Angola, and Sierra Leone, with active processes currently underway in Uganda, Botswana, and Zambia. Despite these withdrawals, the bank asserts its commitment to the Middle East, citing strong regional demand and long-term growth potential for its core investment services.