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