Bahrain Islamic Bank, Al Salam in $4.5 bln merger talks

Bahrain Islamic Bank and Al Salam Bank are thinking about teaming up to create the Gulf Arab state’s largest Islamic lender. The both are known to be in merger talks to create the third largest bank in Bahrain, with assets of BHD 1.7 billion ($4.5 billion).
The statement added that the two boards of directors stated that consolidation is the way forward for local banks in general and Islamic banks in particular in the aftermath of financial crisis and economic downturn and greater competitive banking environment in the region.