Qatari banks Masraf Al Rayan, Barwa Bank and International Bank of Qatar have entered into initial talks for a potential merger, a statement said on Monday, in a deal that would create the Gulf state’s second-largest bank.
The trio have begun initial discussions “to create a larger and stronger financial institution with a solid financial position and liquidity to support Qatar’s economic growth”, according to a joint statement sent to Reuters.
The new bank, which will be run in compliance with Islamic banking principles, would have assets worth more than 160 billion riyals ($44 billion), it added.
