November 7, 2018 / 8:21 AM / 10 days ago

Kuwait Finance House expects board to decide on AUB merger before year-end -CEO

ABU DHABI, Nov 7 (Reuters) - The board of Kuwait Finance House will likely decide on whether to go ahead with a merger with Bahrain’s Ahli United Bank before the end of the year, the Kuwaiti lender’s chief executive told Reuters.

Until a decision is made on the merger, KFH will hold off on plans to issue a $500 million to $750 million sukuk, said Mazin Saad al-Nahedh in an interview.

The two banks have been in talks since mid-2018, and while several other banks are in the midst of consolidating, a merger between the two could become the first cross-border tie-up between Gulf banks in recent years. (Reporting By Tom Arnold and Stanley Carvalho;Editing by Saeed Azhar)

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