Middle East Economic Survey

VOL. XLVII

No 36

6-September-2004

REGIONAL BANKING

NBK Concludes Grindlays Qatar Bank Purchase, Opens Lebanon Branch

National Bank of Kuwait (NBK) announced on 31 August that it had signed formal documentation to complete its acquisition of a share in Grindlays Qatar Bank. The agreement calls for NBK to buy a 20% stake and manage the bank, which is now renamed International Bank of Qatar (MEES, 10 May). NBK has been looking to acquire Qatari assets for sometime, and last...