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Kuwait Finance House completes due diligence on Ahli United Bank deal

Kuwait Finance House KSCP said the due diligence conducted on its proposed acquisition of Bahrain-based Ahli United Bank BSC has been completed and will be reviewed by its management.

The Kuwaiti lender noted that the final decisions of the potential deal are subject to approval of the general assemblies of both banks, the central banks and relevant regulatory authorities of Kuwait and Bahrain.

In August, Ahli United Bank completed due diligence on the merger, which was first announced in January. The deal has also been approved by Kuwait's Public Institute for Social Security.