Abu Dhabi's Merger Drive May Create Another Mega Bank: Timeline - Bloomberg:
Three of Abu Dhabi’s banks are in talks to combine -- a move that would create the fifth-largest lender in the Gulf Cooperation Council with assets of about $110 billion.
Discussions to merge Abu Dhabi Commercial Bank PJSC, Union National Bank PJSC and privately-held Al Hilal Bank are underway but no decision has been made, according to people with knowledge of the matter.
The talks fit into Abu Dhabi’s strategy to consolidate its institutions as the oil-rich emirate seeks to cope with lower crude prices. Following are the key mergers recently undertaken in the largest sheikhdom in the United Arab Emirates.
No comments:
Post a Comment