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Kuwait’s KFH in talks to buy Ahli United Bank

Kuwait’s major Islamic bank Kuwait Finance House is in discussions to buy Bahrain’s Ahli United Bank, according to news reports. It the deal materializes, it will see the creation of one of the Middle East’s largest Islamic lenders with about $85 billion of assets. KFH, the reports said, has started discussions to acquire the Bahraini bank as well as its operations in Kuwait. KFH had, however, maintained that it is studying a number of strategic alternatives to maximize its profitability and consolidate its position. It denied taking any decision in the proposed deal. KFH had $53.9 billion of assets at the end of March, while Ahli United had about $31.5 billion.

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