Bahrain Islamic Bank and Al Salam Bank said on Thursday that merger talks between both lenders to form a banking giant collapsed due to disagreement on pricing.
Both banks had said in July they initiated talks to form the Gulf Arab state's largest Islamic lender with assets of 1.7 billion dinars ($4.5 billion).
"Bahrain based Islamic retail banks, Bahrain Islamic Bank and Al Salam Bank mutually agreed to end merger talks after they were unable to each agreement on the exchange ration for the shares," the banks said in a statement on the Bahrain bourse.
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