If the bank had taken a decision to pull out it would have informed the central bank, Durand said in a phone interview yesterday. “We haven’t done that.” Durand was responding to speculation that the bank may quit Bahrain after the Persian Gulf nation witnessed political unrest.
BNP Paribas, which has its regional headquarters in Bahrain, last year set up backup operations in Dubai as part of its policy to establish these centers worldwide, Durand said.
AXA Insurance Gulf’s revenue in Bahrain grew more than 10 percent last year amid the unrest, Jerome Droesch, chief executive officer for the Gulf and the Middle East, said in a phone interview from Dubai today, without giving details.
The company, which has its regional headquarters in the island nation, increased its staff by 5 percent to 100 last year, he said.
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