Bahrain's Al Salam Bank in merger talks
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Bahrain's Al Salam Bank in merger talks

Bahrain's Al Salam Bank in merger talks

Bahrain-based Al Salam Bank has announced it is in merger talks with an unnamed regional bank, almost a year after a tie-up with Bahrain Islamic Bank collapsed, Reuters has reported. "We confirm the accuracy of the media reports that were published related to a potential merger of the bank with one of the banks in the region and the strategy for that," the bank said, without providing further details. In February 2012, merger talks between Bahrain Islamic Bank and Al Salam Bank to form what would have been the kingdom's largest Islamic lender collapsed due to disagreement on valuation.

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