Are merger talks back on the table at top Abu Dhabi banks?

SourceArabian Business
SectorFinancial Services
CountryUAE Top Picks

Close on the heels of National Commercial Bank announcing acquisition of rival Samba Financial group, First Abu Dhabi Bank (FAB) and Abu Dhabi Islamic Bank (ADIB) are understood to have renewed discussions for a possible merger deal. According to investment banking sources, the proposed merger - first reported and denied back in April 2019 - is "back on the table". New research says consolidation should ultimately be positive for the Islamic banking sector by creating larger, stronger and more efficient banks An investment banker familiar with the development told Arabian Business: “The discussions seem to veering around a possible acquisition of ADIB by FAB. “The talks are still at a very preliminary stage,” added the investment banker, who did not want to be identified as the discussions are held in total privacy. Both FAB and ...read more...