**AF Holdings Limited** has reported that it has secured full Government approval to complete its acquisition of A**nsbacher (Bahamas) Limited** from the Ansbacher Group.

The Qatar National Bank is the parent company of the Ansbacher Group, whose strategy now includes a focus on European and Middle East markets. Also reported is that Ansbacher (Bahamas) Limited will be merged with the AF subsidiary **Sentinel Bank and Trust Company Limited**. A release from the full service financial company says, *”In due course Ansbacher (Bahamas) Limited and Sentinel Bank and Trust Company Limited will be merged under the umbrella of Ansbacher (Bahamas) Limited.”*

Anthony Ferguson, Director of AF Holdings Limited, said *“We are truly delighted to conclude the purchase of Ansbacher (Bahamas) Limited, a matter that has been on our agenda for some while. We believe this acquisition is an excellent strategic fit that will significantly expand our product offerings and capabilities in some important lines of business – resulting in economies of scale that will bring considerable value to our clients and make our collective operations that much stronger.”*

According to Mr. Ferguson, the merger will create a major new player in the international banking industry that is wholly owned by Bahamians and governed by a Bahamian regulatory regime.
AF Holdings is a financial consortium of leading comprehensive financial services, with insurance, banking, healthcare and media companies and real estate holdings in The Bahamas, offering integrated solutions to meet the diverse needs of international and local clients.

The AF group of companies include CFAL (formerly Colina Financial Advisors Ltd.), ColinaImperial Insurance Limited (ColinaImperial), Sentinel Bank & Trust Ltd. (Sentinel), Colina General Insurance Agency Limited (CGIA) and CFAL Securities (formerly First Bahamas Capital Limited ). Ansbacher (Bahamas) Limited is one of the oldest offshore bank and trust companies in The Bahamas. Formerly known as the Bahamas International Trust Company Limited (BITCO), it was previously owned by a consortium of banks with Barclays Bank as the majority shareholder. BITCO was sold to the Ansbacher Group of Companies in 1989, and subsequently changed its name to Ansbacher (Bahamas) Limited in 1994.