Abu Dhabi Commercial Bank (ADCB) Saturday announced the legal transfer of the retail banking and small and medium enterprise (SME) business of RBS in the UAE to ADCB.
"The agreement was signed by ADCB and RBS on June 16, 2010, and the the Central Bank approval for the same was received about a month back. Meticulous planning and effective implementation enabled ADCB to complete several tasks that required to be completed prior to the legal cut-over in a record 100 days and the transition was seamless," ADCB said in a statement.
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