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Merger study of three Qatari banks to be revealed soon

Merger study of three Qatari banks to be revealed soon
Merger study of three Qatari banks to be revealed soon
Al Rayan
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Mubasher: The study of the merger of three Qatari banks Masraf Al Rayan, International Bank of Qatar and Barwa Bank will be announced in the coming few days, Qatar's Al-Watan newspaper reported on Sunday, citing sources as saying.

Advisors of the lenders had finished the financial and legal studies of each bank separately. They are now putting the finishing touches to potential merge talks and the final form, sources said.

Sources added that the merger structure is now under the final approval of boards and shareholders of the three banks, in addition to Qatar Central Bank and other regulators.

In December 2016, the three Qatari banks revealed their intention to integrate together to create Qatar's largest Islamic bank and the Middle East's third biggest bank, with assets of more than QAR 160 billion and a capital of QAR 22 billion.