Dubai – Mubasher:  GFH Financial Group is planning to complete the acquisition of Bank Al Khair in the first quarter of 2017, subject to reaching an agreement on the final value of the acquisition, according to a bourse statement.

The group confirmed it was in talks with other banks and financial institutions in the region for further acquisitions and mergers including another bank in Bahrain.

GFH has been able to recover 80% of the assets related as part of the settlement, approved earlier this year by the group’s board.

The company is currently awaiting directives by the Central Bank of Bahrain (CBB) in this regard to register such assets in its books.