BisB, Al Salam name advisor for merger
Manama, August 17, 2011
Bahrain Islamic Bank and Al Salam Bank have named KPMG Fakhro as advisor after receiving approval from the central bank for their planned merger, Al Salam Bank said in a statement on the Bahrain bourse late Tuesday.
The two banks said they were in merger talks to form the kingdom's largest Islamic lender with assets of 1.7 billion dinars ($4.5 billion), earlier this month.
Bahrain's central bank has said lenders in the kingdom have not been adversely impacted by protests earlier this year.
KPMG operates in Bahrain through its member firm KPMG Fakhro. - Reuters
More Finance & Capital Market Stories
- Gulf stocks surge as Fed tapering adds fuel to fire
- SABB launches graduates programme
- NBAD names key official for Hong Kong
- Commercial Bank of Dubai obtains $450m loan
- EFG Hermes names group co-chief
- Islamic bond issuance in GCC picking up
- Kuwait budget surplus likely to hit $42.4bn
- Bahrain banking sector on road to recovery
- GCC banks' outlook stable, says report
- GBSA panel names new chairperson