Financial and Banking News
Lloyds to Close Bahrain OBU
In a surprise announcement in London on 12 December Lloyds Bank revealed itsplans to close down its offshore banking unit (OBU) and pull out of Bahrainaltogether. The closure is to take place in February snd will badly affect thebank's local staff, with 21 Bahrain employees expected to be made redundant.
Lloyds Bank opened its Bahrain OBU in 1976 and during the late 1970s andearly 1980s...