Consolidation frenzy among Gulf banks rages on as Bahrain’s NBB bids for BIsB
National Bank of Bahrain has made a bid to buy a majority stake in Bahrain Islamic Bank, of which it already owns 29%. The move is the latest in a seemingly endless round of consolidation between Gulf banks, driven by the effort to become more competitive in what many have called an oversaturated banking market.
NBB — one of Bahrain's leading lenders — is offering BIsB shareholders Dh0.117 a share, and is offering new shares at an exchange ratio of 0.167 NBB shares per BIsB share.The bank already owns 29.06% of Shariah-compliant lender BIsB, and expressed its interest in increasing its holding "up ...
Please take a trial or subscribe to access this content.
Contact our subscriptions team to discuss your access: firstname.lastname@example.org