KFH, Bahrain's Ahli United Bank mull possible merger

KUWAIT, July 16 (KUNA) -- 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 has released a statement confirming that it has received the offer.
KFH said that it would provide further updates on the matter in due course. (end) fnk.ht.nam