Dubai’s DIB completes Noor acquisition to create one of the world’s largest Islamic banks

Dubai’s DIB completes Noor acquisition to create one of the world’s largest Islamic banks

Dubai Islamic Bank (DIB) has completed the acquisition of rival Noor Bank to create a lender with total assets exceeding Dhs275bn, it was announced on Thursday.. The transaction, structured through a share swap, saw DIB issue 651,159,198 new shares to take its issued share capital to 7,240,744,377 shares.. Three of Abu Dhabi's banks - Abu Dhabi Commercial Bank, Union National Bank and Al Hilal Bank merged earlier this year to create the third largest UAE lender with $110bn in assets..