GulfBase Live Support
Qatari lenders Barwa Bank and International Bank of Qatar are in advanced talks to merge after discussions for a three-way merger with another bank collapsed last week, sources told Reuters on Wednesday.
The proposed merger between the two banks could be announced as early as next week, one of the three sources close to the deal said.
The value of the transaction was not immediately available. The two banks had total assets of 81.7 billion riyals ($22.45 billion) at the end of last year, according to their financial reports.
Barwa Bank and International Bank of Qatar were not immediately available to comment. Last week Islamic lender Masraf Al Rayan and conventional lenders Barwa Bank and International Bank of Qatar (IBQ) had announced that they had ended talks for a three-way merger. The talks had begun in December 2016, but sources said the talks stalled over the valuation.
Banking consolidation has accelerated in the region in recent years.
Barwa Bank and International Bank of Qatar (ibq) have signed an agreement for the merger of the two banks to create a leading Sharia compliant financial institution with a solid financial position an
Barwa Bank has been recognised with the ‘Excellence in Diversified Islamic Services and Products in Qatar’ award at ‘The Arab Banks Awards & Commendations of Excellence 2018’, organised recently by t
Barwa Bank Group’s net profit jumped 15% to reach QR208.7mn in the first quarter of this year compared with the same period in 2017. Barwa Bank Group chairman and managing director Sheikh Mohamed bin
Switzerland’s Clariant and new anchor shareholder Saudi Basic Industries Corp. (SABIC) will merge their high-performance materials businesses and install a SABIC manager as head of the group as they
Reinforcing its position as one of Oman's most innovative Islamic banking institutions, Alizz Islamic Bank signed a Memorandum of Understanding (MoU) with Takaful Oman, the Sultanate’s first full-fle
Times of Oman
Dubai-based telecom operator du has announced a new partnership with the Abu Dhabi Global Market (ADGM) to facilitate its digital transformation agenda.
The MoU sets a formal framework for
Barwa Real Estate Group, one of the leading real estate and investment companies in Qatar and the region, participated in the Qatar-Russia 2018 Year of Culture, where a seminar entitled “Qatar: No Li
Saudi Aramco, a world leader in integrated energy and chemicals, said one of its units, Saudi Arabian Drilling Academy (Sada) held its first graduation for a cohort of 132 students representing 34 dr