We noticed you're blocking ads.

Keep supporting great journalism by turning off your ad blocker.

Questions about why you are seeing this? Contact us

Font Size

- Aa +

Tue 21 Dec 2010 12:15 PM

Font Size

- Aa +

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

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

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

The
merger remains subject to approval from Qatar regulatory authorities.

AL
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).

Arabian Business: why we're going behind a paywall

For all the latest banking and finance news from the UAE and Gulf countries, follow us on Twitter and Linkedin, like us on Facebook and subscribe to our YouTube page, which is updated daily.
Real news, real analysis and real insight have real value – especially at a time like this. Unlimited access ArabianBusiness.com can be unlocked for as little as $4.75 per month. Click here for more details.