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19 May | Tuesday
GCC to see new phase of bank mergers in post-Covid period

The GCC region may see a second wave of mergers and acquisitions that will be driven by economic rationale in the post Covid-19 era, according to Mohamed Damak, S&P Global's senior director and head of Islamic Finance.
The S&P analyst said the second wave of M&A might involve consolidation across different GCC countries or emirates in the UAE, for example. "This could mean more aggressive moves by management than those seen in the past. The added hurdles of convincing boards and shareholders, who face the possibility of seeing their assets diluted or losing control, might be easier if they have to recapitalise their banks anyway."

source: Khaleej Times
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