| Home | GCC | Industries | Markets | Opinion | Interviews | Photos | Videos | Lists | Lifestyle | StartUp | Jobs | Property | Smart TV |
Help, I forgot my username and/or password
Bahrain-based Gulf Finance House (GFH) has said it is studying options to merge its affiliate, Khaleeji Commercial Bank (KCB), with other Bahraini banks.
GFH, which has undergone a number of debt restructurings since 2009, currently owns 47 percent of KCB, which would be worth around BD23.3m ($61.8m) at current market value.
"GFH is currently studying a number of options to merge Khaleeji Commercial Bank with other banks in Bahrain to create a bigger and stronger bank," GFH said in a bourse filing in Dubai, where it is also listed.
It did not say which Bahraini banks it was considering as merger partners.
Gulf bank mergers are uncommon because main shareholders, often powerful local families, are reluctant to cede control and can demand exaggerated valuations.
However, Bahrain has seen some merger attempts in recent months as lenders react to the global financial crisis and the end of the real estate boom in the kingdom where many small banks are reliant on fees earned from managing property and land investments.
Earlier this month, Capivest, Elaf Bank and Capital Management House completed their three-way merging, creating a bank with total assets worth over $400m.
Bahrain Islamic Bank and Al Salam Bank said in February 2012 that merger talks between the two to form Bahrain's biggest Islamic bank by assets had collapsed because of disagreement on pricing.
In December, GFH Capital, a unit of GFH, bought English soccer club Leeds United.
The problem with many South Asians in general and Indians in particular is that greed has no limit for them. No matter how much they get, which is often... more
Wednesday, 19 June 2013 10:59 AM - Fahd
In those so called democratic (they should change it to Hypocratic) there is freedom of speech but no freedom after the speech.
When the guys speaking... more
If Boeing can develop a 777 that can fly for 20 hours, then why bother flying through Dubai? Most EK traffic is transfer passengers. 20 hours nonstop would... more
Wednesday, 19 June 2013 5:04 PM - John HarteThe problem with many South Asians in general and Indians in particular is that greed has no limit for them. No matter how much they get, which is often... more
Wednesday, 19 June 2013 10:59 AM - Fahd
@anguilla: Kalba town is part of the Sharjah Emirate.
along with khor fakkan and dibba al hisn.
http://en.wikipedia.org/wiki/Sharjah_%28emirate... more
I am wondering why this article is being published here? it is really useless. anyway, I in certain ways agree with the Mufti. god bless Saudi Arabia more
Tuesday, 18 June 2013 9:27 AM - Faisal@ Henry, enough of whining, the host country does not need you, it is your employer that needs your services and you know well enough that you can be made... more
Saturday, 1 June 2013 11:32 AM - ZainOrganizations like HRW, Green peace, ILO, UNHCR are so self serving that it is amazing they still exist! they spend 60/70 percent of their budgets (meant... more
Thursday, 30 May 2013 7:53 PM - NavinThe problem with many South Asians in general and Indians in particular is that greed has no limit for them. No matter how much they get, which is often... more
Wednesday, 19 June 2013 10:59 AM - Fahd
Join the Discussion
Disclaimer:The view expressed here by our readers are not necessarily shared by Arabian Business, its employees, sponsors or its advertisers.
Please post responsibly. Commenter Rules