IslamicFinance.de

Al Salam Bank-Bahrain (ASBB) shareholders approved by majority the Board of Directors’ recommendation to merge the bank with BMI Bahrain through exchange of ASBB shares. The Chairperson H.H. Shaikha Hessa bint Khalifa Al Khalifa pointed out that ASBB’s strategy is to grow organically and through mergers and acquisitions, and consistent with this strategy the Board of Directors had been continuously on the lookout for suitable commercial banking targets to acquire and integrate. H.H Shaikha Hessa mentioned that upon merger the Group will have total assets of circa BHD 1.8 billion, financing facility of circa BHD 1.2 billion, equity of over BHD 285 million and total customer deposits in excess of BHD 1.2 billion.