National Bank of Bahrain BSC is still in discussions with Bahrain Islamic Bank BSC over a voluntary takeover offer of the latter's issued shares, according to a Sept. 22 release.
NBB did not disclose the size of the potential increase in its stake in the Islamic lender, which currently stands at 29.22%, according to S&P Global Market Intelligence data.
The proposed transaction is subject to receipt of all necessary regulatory, board and shareholder approvals.
NBB sent a nonbinding notice of potential interest to its Bahraini peer in 2018.
