REUTERS SUMMIT-Bahrain in early stages of bank merger wave -c.bank | Reuters:
"* Several mergers taking shape in past year
* Rasheed al-Maraj says will aim for structured series
* To make Bahrain banks more competitive regionally
* Says banking system assets now recovering steadily
* Sees Dubai's Islamic finance push as good for industry
By Mirna Sleiman
DUBAI, Oct 27 (Reuters) - Bahrain is still in the early stages of a series of bank mergers designed to strengthen the sector in the face of regional competition, the central bank governor said.
The tiny kingdom's banking industry, once the most vibrant in the Gulf, was hit hard by the global financial crisis and, since 2011, by political unrest which has deterred some foreign investment.
But Rasheed al-Maraj said there were signs of recovery in the sector, which would be aided by a central bank policy of encouraging mergers and acquisitions."
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