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Tue 21 Dec 2010 12:15 PM

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Qatar's Al Khaliji, IBQ merger talks at final stage

Negotiations between two Qatari lenders in final stages, merger remains subject to regulatory approval

Qatar's Al Khaliji, IBQ merger talks at final stage
PLANNED MERGER: Qatar-based Al Khaliji Bank is in final negotiations with the International Bank of Qatar i

Khaliji bank and the International Bank of Qatar on Tuesday said merger talks
between them are in the final stages.

between the two lenders began in May, and are now entering formal discussions
with regulators, the banks said in an emailed statement.

merger remains subject to approval from Qatar regulatory authorities.

Khaliji, Qatar’s sixth largest bank by market value, reported a 142 percent
rise in net profits for the third quarter of 2010 to QR220m ($90.62m).

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