NBAD, FGB boards approve merger | GulfNews.com:
"The boards of directors at First Gulf Bank (FGB) and the National Bank of Abu Dhabi (NBAD) have approved the merger of both entities in the first quarter of 2017, thereby creating an entity with Dh642 billion in total assets.
The new entity, which will retain the brand name of the National Bank of Abu Dhabi, will be the largest bank in the Middle East and North Africa by assets.
The merger will be executed through a share swap, with FGB shareholders receiving 1.254 NBAD shares for each FGB share they hold."
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