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Wednesday, 7 December 2016

NBAD and FGB shares rally ahead of shareholders’ meetings to approve merger | The National

NBAD and FGB shares rally ahead of shareholders’ meetings to approve merger | The National:
"Shares of National Bank of Abu Dhabi (NBAD) and FGB rallied on Wednesday ahead of general assemblies for both banks today where shareholders are expected to approve a merger that will create the largest lender by assets in the Middle East.

NBAD shares jumped as high as 3 per cent as of midday in Abu Dhabi while shares of FGB advanced as much as 5.4 per cent.

NBAD, the biggest bank by assets in Abu Dhabi, and FGB, its closest competitor in the emirate, in October invited shareholders to separate general assembly meetings to approve their merger."

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