Three-way merger of UAE banks 'credit positive' for industry, says Moody’s - The National:
The potential merger of Abu Dhabi Commercial Bank, Union National Bank and Al Hilal Bank would be credit positive for the country’s banking industry, according to Moody’s Investors Service.
“The merger would increase banks’ pricing power, reduce pressure on their funding costs and increase their ability to meet sizeable investments,” the rating agency said in a report on Monday.
It would also contribute to consolidation of the “overbanked” sector in the UAE.
No comments:
Post a Comment