More GCC banking mergers, PE investment deals looming, says expert

SourceArabian Business
SectorFinancial Services
CountryGCC

The GCC region is expected to see another round of bank mergers in the coming months, even as many private equity and venture capital funds eye distressed assets, a top sector expert has revealed. Technology, healthTech, eduTech and pharmaceuticals are among the sectors which are expected to see big-time PE and VC fund investments in the short-to-medium term, Amer Lakhani, executive director and head of banking and financial services, EMA Partners, UAE, told Arabian Business in an exclusive interview. Abu Dhabi's three-way bank merger is set to create a $114bn financial giant “The consolidation trend in banking, commenced a couple of years ago, is set to accelerate in the coming months in the wake of faster digitisation and branchless banking," he said. “The serious erosion in the value of bank assets in a host ...read more...