National Bank of Bahrain says in merger talks with BBK
MANAMA, 22 days ago
The National Bank of Bahrain, a leading financial institution in the kingdom, has announced that it has begun initial discussions with the Bank of Bahrain and Kuwait (BBK) about a potential merger.
Established in 1957, NBB is the first indigenous bank in Bahrain. It boasts a nationwide network of 25 branches, 61 ATMs, and has over 4,000 points of sale terminals in addition to their branches in Abu Dhabi and Riyadh.
Its major shareholders are Bahrain Mumtalakat Holding Company with a 49% shareholding and The Pension Fund Commission (Bahrain) with a 6.24% stake.
BBK is a banking industry pioneer with more than 50 years of experience in offering solutions in retail banking, corporate and international banking.
In this regard, the NBB said it has decided to appoint advisers to study the economic feasibility of the merger.
Any material developments shall be announced as required and in accordance with applicable regulations, it added.-TradeArabia News Service