Deals
Bank Mergers Spread in Mideast as Low Oil Signals Boom Days Over
- Masraf, Barwa and IBQ could form Qatar’s top Islamic lender
- Merger talks follow restructuring of region’s sovereign funds
How Likely Is Three-Way Deal Between Qatari Banks?
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For oil-rich Persian Gulf states, 2016 has been all about consolidation.
Oil’s more than 50 percent plunge over the past two years is forcing countries such as the United Arab Emirates, Qatar and Saudi Arabia to cut state spending, tap reserves and combine some of their largest banks to reduce costs and duplication.