The International Bank of Qatar (IBQ), a leading private bank that has been operating in Qatar since 1956, confirmed today that it is in very preliminary discussions with Al Khaliji (QE: KCBK), regarding a potential merger of the operations of the two Doha-based financial institutions.
Any agreement in this regard is subject to approval from the relevant government and regulatory authorities in Qatar, as well as the shareholders of both banks.
A senior IBQ spokesperson confirmed that the discussions remain at a very preliminary stage and that there is no guarantee that the merger will take place.
