KFH, AUB mull possible merger

KUWAIT: Kuwait Finance House (KFH) has invited Bahrain’s Ahli United Bank (AUB) to sign a memorandum of understanding and non-disclosure agreement to pursue strategic opportunities for global growth and expansion. The deal, if confirmed, aims to establish a new banking entity that will accommodate the rapid developments in the world banking industry, KFH said in a statement posted on Kuwait Stock Exchange’s (Boursa Kuwait) official website. Meanwhile, the Bahraini bank released a statement confirming that it has received the offer. KFH said that it would provide further updates on the matter in due course. – KUNA

This article was published on 16/07/2018