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Thu 17 Sep 2015 01:15 PM

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Qatar's QNB says in early talks to buy Kuwait's KFH unit

Qatar National Bank in preliminary discussions to buy Malaysia unit of Kuwait Finance House

Qatar's QNB says in early talks to buy Kuwait's KFH unit

Qatar National Bank (QNB), the largest bank in the Gulf Arab region, is in preliminary talks to buy Kuwait Finance House's (KFH) Malaysia unit, the Qatari lender said on Thursday.

No agreements had been reached over a potential deal and QNB would make any necessary disclosures to the Qatar stock market in the future, QNB said in the statement.

KFH, the largest Islamic bank in Kuwait, said in May that it was contemplating the sale of its business in the southeast Asian nation and a number of other investments as part of a broader restructuring of its operations.

A spokesman for KFH on Tuesday said it was "looking at several options whether to restructure, sell or merge" its Malaysian business and that "the decision will be concluded by the end of this month".

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