#Dubai Banks Are Said to Hire HSBC and Barclays for Merger Talks - Bloomberg

Dubai Banks Are Said to Hire HSBC and Barclays for Merger Talks - Bloomberg:

Dubai Islamic Bank PJSC hired HSBC Holdings Plc to advise on its possible acquisition of smaller rival Noor Bank PJSC, according to people with knowledge of the matter.

Noor Bank is working with Barclays Plc on the deal, the people said, asking not to be identified because the discussions are private. An acquisition would create a lender with 278 billion dirhams ($76 billion) in assets.

Dubai Islamic Bank can see “a lot of synergies with an acquisition of Noor,” Chief Executive Officer Adnan Chilwan said last month after Bloomberg reported that the companies had held initial talks.