"Bank Al Khair, a Bahrain-based investment bank, expects its potential merger with local player Khaleeji Commercial Bank KHCB.BH to help provide it with retail banking exposure and more stable revenues, a top executive said.
Unlisted Al Khair and Khaleeji, both Islamic banks, set up a committee to study the feasibility of a merger, with any agreement subject to due diligence and approvals by shareholders and the regulator, Khaleeji said in a bourse filing earlier this month.
A merger would create an entity with paid-up capital of about $500 million and assets in the range of $600 million to $1 billion, Jonathan Holley, Bank Al Khair's acting chief executive and head of investment banking, said in an interview on Sunday."
'via Blog this'
No comments:
Post a Comment