NEWS ANALYSIS: Is the Middle East overbanked?

The Emirates NBD merger did not set off the much anticipated wave of banking mergers that everyone expected, but is a slowing global economy and a saturated GCC banking sector about to push reluctant regional banks into each others’ arms?

Will tough competition and narrowing margins force the hands of regional banks and drive consolidation and mergers?

Qatar National Bank (QNB) said it has acquired of 23.8 per cent of Commercial Bank International (CBI) which is based in the UAE. The total amount of the deal was equivalent to $302.2 million.