Ahli United Bank (AUB) has announced that HSBC and Credit Suisse are undertaking needed valuations studies in order to insure that AUB and Kuwait Financial House (KFH) arrive at a fair share exchange ratio. In a bourse filing, AUB said that the valuations study is required to obtain regulatory approvals in Bahrain and Kuwait, as well as concerned countries.
Following the disclosure of a possible merger, HSBC and Credit Suisse were appointed to govern the valuation process, which is a prerequisite to the proposed AUB and KFH merger.
If the merger goes through, it would join a number of bigger and stronger lenders in the MENA region. A merger of the two banking powerhouses would result in total assets amounting to $90.57 billion.