Mubasher: Ahli United Bank -Bahrain (AUB) has announced that the due diligence undertaken by the bank and Kuwait Finance House (KFH) in relations to the possible merger between them was still in progress.

The Bahrain- and Kuwait-listed bank added that it would provide any additional disclosures on the matter, according to a bourse statement released on Thursday.

In March, the Central Bank of Kuwait (CBK) has hired the US-based McKinsey & Company to review the merger between Kuwait Finance House (KFH) and AUB.

AUB reported a 10.4% year-on-year profit increase in the first quarter of 2019, recording BHD 72.7 million ($192.8 million).