Bahrain’s Khaleeji Commercial Bank And Bank Al Khair In Merger Talks
Khaleeji Commercial Bank and Bank Al Khair, a pair of Bahraini banks, are in talks over a potential merger. The banks have signed an agreement to explore the feasibility of a merger and are forming a steering committee to do due diligence and execute the deal. The proposed tie-up between Khaleeji, an Islamic bank founded in 2004 and listed on the Bahrain bourse, and Bank Al Khair, an Islamic investment bank, comes amid a wave of talks among Bahraini lenders. Three small Bahraini banks completed a merger in January, and Bahrain’s Al Salam Bank and BMI Bank are currently pursuing a merger.