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Paving the way—Roadblocks remain in financial M&A in the Gulf
Ownership restrictions and valuation issues are holding up bank mergers in the GCC, even as consolidation is seen as advantageous. The Bahrain Islamic, Al Salam merger just might break barriers.
August 17, 2011 1:45 by Reuters
…the year-ago period, according to Thomson Reuters data. No bank mergers have been completed in the last two years in the region.
“These (banking) mergers have to happen in multiple jurisdictions to have a lasting impact on the industry,” said an Islamic banker, adding that the Bahraini deal would be good first step. (Reporting by Shaheen Pasha and Dinesh Nair; Editing by Sitaraman Shankar)
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