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
By Joanne Bladd
Tue 21 Dec 2010 12:15 PM

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).

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