Postponement of the Kuwaiti KFH's acquisition of the Bahraini Al-Ahly United

The Board of Directors of Kuwait Finance House KFH decided to postpone the start of updating the studies on the acquisition of Ahli United Bank (Bahrain) and assign a global advisory body to do so.

and said in a statement to the Kuwaiti Stock Exchange, today, Wednesday, that the process of postponing the study of the acquisition of Al-Ahly United - Bahrain came in coordination with the latter, and in the interest of shareholders and investors in both The two banks.

Baitak explained that the decision is subject to the approval of the regulatory authorities in the states of Kuwait and Bahrain, indicating that the decision has no effect at the present time on the bank’s financial center.

As Ahli United Bank (Bahrain) confirmed in an independent disclosure to the Kuwaiti Stock Exchange, also today, on the same content of your KFH disclosure, explaining that it will announce immediately and follow any developments. In the previous matter.

Baitak had announced, in mid-April, the postponement of the procedures for the acquisition of Al Ahli United Bahrain, in order to study the potential risks of the Corona pandemic and its impact on the two banks' assets.

The two banks, the Kuwaiti and Bahraini, also confirmed, in late March, that there were no new developments regarding the upcoming acquisition.