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“Until the dust settles it is too risky to embark on acquisitions and business combinations” Adel El-Labban, Ahli United Bank |
With many of its banks among the worst hit by the financial crisis in the Middle East, Bahrain now looks as if it might be a nucleus of GCC financial services consolidation. As elsewhere in the Gulf, there are too many banks in Bahrain considering the size of its economy. Bahrain’s economy is relatively precarious because it has smaller foreign reserves than its neighbours and the government has made large increases in expenditure in recent years.
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