Bahrain-based Khaleeji Commercial Bank (KHCB), held its annual general meeting today (March 31) at Gulf Hotel in Manama.

Highlights of the agenda included the approval of the financial statements for 2010, as well as the presentation of the reports of the external auditors and Shari’a Supervisory Board.

The annual general meeting (AGM) also elected new members for the board of directors subject to the approval of the Central Bank of Bahrain as the previous board completed its three year term.

“The bank’s new strategic plan is focused on expanding its commercial banking business,” said Abdullah Showaiter, vice chairman of KHCB.

“Key elements of the plan include launching and growing the retail banking business in Bahrain, increasing the bank’s share of business in the local corporate and business markets and expanding the bank’s commercial banking business in the regional markets, while continuing to leverage on its investment banking capabilities.”

“In connection with these aims, the Bank will open three new branches this year in and will also use other channels to reach a larger number of customers,” he added. – TradeArabia News Service