"BAHRAIN BANKS MERGER Khaleeji Commercial Bank and Bank Al Khair, a pair of Bahraini banks, are in talks over a potential merger.
The banks have signed an agreement to explore the feasibility of a merger and are forming a steering committee to do due diligence and execute the deal, Gulf Finance House, which owns Khaleeji Commercial bank, said in a statement on the Bahrain bourse website Monday.
The proposed tie-up between Khaleeji, an Islamic bank founded in 2004 and listed on the Bahrain bourse, and Bank Al Khair, an Islamic investment bank, comes amid a wave of talks among Bahraini lenders. Three small Bahraini banks completed a merger in January, and Bahrain’s Al Salam Bank and BMI Bank are currently pursuing a merger."
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