(MENAFN) Kuwait Finance House (KFH) was announced to have delivered a request to Bahrain's Ahli United Bank Ato to launch a due diligence process for a possible merger.
Kuwait's most major Islamic lender was also confirmed to have invited AUB to ink a non-disclosure agreement.
The move, if initiated, presents the latest tie-up to establish bigger and firmer lenders in an over-banked region where some central banks have made an appeal for consolidation.
In a bourse statement, KFH added that the scale of the deal varies from valuation studies and work to reviewing the feasibility of creating a new banking entity.
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