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Wednesday, 7 December 2016

Shareholders of NBAD, FGB approve merger | GulfNews.com

Shareholders of NBAD, FGB approve merger | GulfNews.com:
"Shareholders of the National Bank of Abu Dhabi (NBAD) and FGB approved the banks’ plans to merge, thus creating the largest bank in the Middle East and North Africa, with Dh655 billion in total assets.
The approvals came in general assembly meetings held by each bank on Wednesday, and pave the way for the banks to merge in the first quarter of 2017. The merger has already been approved by each bank’s board of directors and the Central Bank of the UAE.
The merger still requires approval from international regulators and the UAE market regulator, the Securities and Commodities Authority (SCA)."

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