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Tue 8 Feb 2011 10:56 PM

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Talks on merger with IBQ still on, says Al Khaliji chairman

The merger will create the third-biggest bank in the Arabian Gulf country

Talks on merger with IBQ still on, says Al Khaliji chairman
POSSIBLE MERGER: Negotiations are going on between two Qatari lenders for a possible merger

Al Khaliji, a Qatari lender, is continuing talks with International Bank of Qatar for a possible merger between the two lenders, Al Khaliji Chairman Sheikh Hamad bin Faisal Al Thani said.

“We continue to engage in merger discussions,’’ Sheikh Hamad said in an e-mailed statement on Tuesday. “A successful outcome will make us the fourth largest bank in Qatar in terms of total assets and the third in terms of share capital.”

The merger, which is expected to take place this year, will create the third-biggest bank in the Arabian Gulf country with a shareholders’ equity of $2.1bn, George Nasra, managing director of International Bank of Qatar, said at the ‘‘MEED Qatar Projects 2011’’ in Doha on Tuesday.

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