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Ahli Bank denies merger with Al Khaliji, IBQ

DOHA, March 17, 2016

Qatar's Ahli Bank on Thursday denied it was involved in an "impending merger" with International Bank of Qatar and Al Khalij Commercial Bank .

Reuters reported earlier on Thursday that the trio were in early-stage talks on a merger that could pool assets worth more than $30 billion, citing three people with knowledge of the matter.

Those talks were focused on winning backing from key shareholders at each of the banks, according to one of the sources, an important consideration in a country where state ownership is prominent across the economy and political factors can often supersede other considerations.

"We categorically deny this speculation as baseless and we remain focused on delivering our agreed strategy and serving our customers," Ahli Bank chief executive Salah Murad was quoted as saying in the bourse statement. – Reuters

Tags: IBQ | Ahli Bank | merger | Al Khalij |

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