VOL. XLVII

No 19

10-May-2004

REGIONAL BANKING

NBK Expected To Finalize Grindlays Qatar Bank Acquisition This Month

National Bank of Kuwaits (NBK) proposed acquisition of Grindlays Qatar Bank is entering the final stages and is expected to be completed sometime this month, MEES understands. The agreement calls for NBK to buy a 20% stake and manage the bank, which will be renamed International Bank of Qatar. Grindlays is one of Qatars smallest banks, and at the end of 2003 its assets totaled...