MANAMA: Bahrain’s largest lender Ahli United Bank (AUB) has completed due diligence of Kuwait Finance House (KFH) as the Kuwaiti lender bids to take over the conventional bank in the first major cross-border bank deal in the Gulf region.
In a bourse statement yesterday, AUB said it has received reports from specialist advisers appointed to complete the due diligence on Sharia-compliant KFH, which were submitted to the AUB board for review and evaluation, without specifying when the result of the board review is expected .