The impact consolidation will have on Abu Dhabi's banking sector | ZAWYA MENA Edition:
Planned mergers are set to create a more consolidated and robust banking sector in Abu Dhabi, strengthening its position as a leader in the regional financial market.
In January Abu Dhabi Commercial Bank (ADCB) and Union National Bank (UNB) issued a statement to the Abu Dhabi Securities Exchange stating that they had formalised plans to merge, and that the new entity would continue to trade under the ADCB name.
Furthermore, they announced that the merged bank would acquire the sharia-compliant lender Al Hilal Bank.
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