GIB And SIB To Merge
The respective boards of directors of Gulf International Bank (GIB) andSaudi International Bank (SIB) announced on 17 December that in principle they have agreedto merge. GIB, which is the wholly-owned commercial banking subsidiary of the Kuwait-basedGulf International Corporation (GIC), said in a statement that the merger with theUK-based SIB would create one of the largest and most preeminent banks in the Gulf region.The two main...
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