Bank Of Sharjah P.J.S.C. (ADX:BOS) has entered into merger talks with Invest Bank (ASE:INVB). The merger could create an institution with about AED 50.6 billion dirhams of assets, sources familiar with the matter told Reuters. The companies have held on-and-off discussions over a potential merger since last year, the sources said.

Bank of Sharjah has appointed JPMorgan for the potential deal, two of the sources said. It was not immediately clear which institution is advising Invest Bank. Reuters added that Bank of Sharjah and Invest Bank did not respond to a Reuters request for comment.

JPMorgan declined to comment.