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Thursday , January 23 2020

KFH, Al-Ahli banks merger to begin

KUWAIT CITY, Jan 23: Kuwait Finance House has notified the Central Bank of Kuwait and Capital Markets Authority (CMA) about its Board of Directors meeting next Thursday prior to the start of formal procedures for the merger process with Al-Ahli United Bank, reports Al-Qabas daily.

KFH has announced that its Board of Directors will meet to discuss report of the independent global consultants HSBC and Credit Suisse on valuation studies and the proposed price for the exchange of shares between the two banks and take the necessary decision on this matter. Al-Ahli United Bank also announced that its Board of Directors meeting will be held to consider HSBC and Credit Suisse reports, which were appointed in accordance with the memorandum of understanding and information of secrecy between the two banks

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