By Amr Adel

Manama – Mubasher: Bahraini banks are continuing with merger talks, but no final agreements have been reached, said Khalid Hamad, executive director of banking supervision at the Central Bank of Bahrain.

The merger of local banks will boost their capital and strengthen their efficiency and competitiveness, especially as for small Islamic banks, according to the official.

The statement came on the sidelines of a banking conference held in Manama.

Meanwhile, Hamad ruled out an impact from the decline in oil prices on financial results of Bahraini banks, saying the banks achieved growth in the third quarter of this year, especially in retail and wholesale segment.

Translated by Sayed Abdel Rahman