Reported 8 months ago
Kuwait Finance House KSCP is looking into acquiring a significant stake in Saudi Investment Bank as the Middle East sees an increase in dealmaking activity. Shares of Saudi Investment Bank rose after the news, with KFH evaluating expansion opportunities in Saudi Arabia and studying multiple banks without any agreements signed yet. This potential investment aims to strengthen KFH's regional presence, with ongoing discussions and no guarantee of a deal. Banking consolidation in the Middle East has been on the rise as institutions seek to enhance competitiveness by increasing scale.
Source: YAHOO