Bahrain’s GFH Financial Group Plans to Fully Acquire Khaleeji Commercial Bank 

GFH Financial Group (GFH)’s increase in Khaleeji Commercial Bank (KHCB)’s stake to 69%, has indicated that it plans to fully acquire the latter. In a statement to the Bahrain Bourse, where both entities’ shares trade, it was divulged that GFH had approached KHCB’s board with a proposed voluntary takeover offer for the issued shares of KHCB.

Why it Matters?

As regional economies emerge from the COVID-19-led economic slump, banks in Gulf Cooperation Council countries are aiming to combine with or take over other financial institutions in order to gain scale and expand reach.

Details

The offer is subject to all necessary regulatory, board and shareholders approvals and may or may not lead to fru...