BFC Group eyes retail business expansion
Manama, June 26, 2013
BFC Group, the holding company of the kingdom's oldest money transfer and foreign exchange firm Bahrain Financing Company, plans to expand its retail business by opening branches in key locations across Bahrain, India, Malaysia and Kuwait.
Since May 2012, the BFC Group has increased its branch network in Bahrain by 18 per cent, and its international branch network by 31 per cent, reported the Gulf Daily News, our sister publication.
Over the last 12 months, an additional 13 branches in India, six in Kuwait and three in Malaysia have been opened, with further branches to be launched later in the year.
As part of this expansion plan, BFC - whose headquarters is located in Manama - yesterday opened its 34th branch at the Gold City to the public.
To celebrate the launch, the BFC will be giving away 100 gold coins to the first 100 customers making an FX or remittance transaction.
The benefits of increasing branch numbers not only extends to BFC's customers - the launch of new branches also creates new job opportunities, it said.
BFC has continued to increase its employee numbers over the years, even during more challenging economic times.
Over the last two years, BFC has increased staff numbers by 16 per cent and remains committed to supporting the next-generation workforce by working with local universities and through offering training programmes to new and existing employees.
"Our customers are at the centre of everything we do," said BFC Group managing director and chief executive Ebrahim Nonoo.
"We want to make sure that we are where they need us to be - in locations where they live and work, both here in Bahrain and further afield.
"By expanding our branch network locally and internationally, we are better able to provide our customers with all their remittance and foreign currency needs," Nonoo added.
"BFC is committed to this market and will continue to invest in our people, services and capabilities to ensure we are meeting all of our customers' needs," added BFC general manager Errol Fonseca.-TradeArabia News Service
Tags: Bahrain Financing Company |
More Finance & Capital Market Stories
- Insurance House posts second year of profit
- ETF global assets hit record $2.44 trillion
- Bahrain firms plan IPOs
- Serbia wins $1bn Abu Dhabi loan
- Key equity banker resigns from Saudi Fransi
- DMCC to boost Islamic commodity trade with tie-ups
- IDB, KIA units to invest in Morocco
- First Gulf to set up $1bn sukuk in Malaysia
- Singapore’s UOB Bullion and Futures joins DGCX
- Infrastructure investment ‘key to growth’
- BKIC declares 30pc dividend
- StanChart profit falls 16pc in 2013
- Veteran Saudi banker to head AMF
- Dubai World prepays $284m to creditors
- EFG-Hermes sells Damas stake to Mannai
- Ultra rich number to grow 35pc in Mideast
- Saudi IPO market 'set for big year'
- RAK 'exploring' ceramics unit stake sale
- Bahrain Bourse wins key UK award
- Alba backs Euromoney forum
- URC bond rating upgraded to stable outlook
- GCC urged to set up onshore financial centres
- Consolidation push paying off for Bahrain banks
- Mubadala to focus more on US, Europe
- Six banks join plan for shared customer data register
- UAE economy grows 4pc in 2013
- Egypt foreign reserves up to $17.3bn
- StanChart opens second branch in Iraq
- Oil below $90 to hit GCC economies
- Payfort offers zero deposit scheme to SMEs