Bahrain’s United Gulf Holding gets regulatory approval to acquire Bank of Baghdad
Bahrain-headquartered United Gulf Holding has received approval from the Central Bank of Iraq to acquire 51.8% of the Bank of Baghdad.
“BOB will be consolidated in UGH’s books which in turn will increase its balance sheet size by $1 billion,” the Bahraini company said in a bourse filing on Tuesday (Jan 28).
UGH reported assets of $3.33 billion as at September 30.
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