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Faisal Bank up for sale, says chief executive
Faisal Private Bank, struggling since the collapse of property schemes in the Gulf and beyond, is up for sale after failing to raise enough money to meet the Swiss regulator’s minimum capital requirements, its chief executive said.
Mark Koch said the Geneva-based bank is talking to three potential suitors. Faisal’s parent, Bahrain-based Ithmaar Bank, will be selling part or all of its stake. He said the group was in advanced negotiations with two financial institutions from the Gulf and one from Britain.
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