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Tuesday, 20 December 2016

Exclusive: Qatari bank trio in talks for potential $44 billion merger | Reuters

Exclusive: Qatari bank trio in talks for potential $44 billion merger | Reuters:
"Qatari banks Masraf Al Rayan MARK.QA, Barwa Bank IPO.BABK.QA and International Bank of Qatar have begun initial talks for a potential merger, the banks said on Monday, in a deal that would create the Gulf state's second-largest bank.

If the deal goes ahead, it would be a rare example of consolidation among banks in the Gulf, which have previously been reluctant to tie up but are facing challenging conditions due to the impact of lower oil prices on the region's economies.

The trio have begun initial discussions "to create a larger and stronger financial institution with a solid financial position and liquidity to support Qatar’s economic growth", according to a joint statement from the three banks sent to Reuters."

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