Abu Dhabi Commercial Bank (ADCB) is in early merger talks with Union National Bank (UNB) and Al Hilal Bank, it said in a statement to Abu Dhabi Securities Exchange on Tuesday.

 

"Both sets of discussions are currently at a very preliminary stage and may not result in a transaction," the statement added.

 

In a separate bourse filing, UNB said the "discussions are at a very preliminary stage and may not result in a transaction."

 

The two statements come after Bloomberg reported of the talks which said that a potential merger could create the Gulf's fifth-biggest bank.

 

In May, Saudi British Bank (SABB) and Alawwal Bank agreed to merge to create Saudi Arabia’s third-biggest lender with assets of around $77 billion.

Comments {{getCommentCount()}}

Be the first to comment

{{Comments.indexOf(comment)+1}}
{{comment.FollowersCount}}
{{comment.CommenterComments}}

رد{{comment.DisplayName}} على {{getCommenterName(comment.ParentThreadID)}}

{{comment.DisplayName}} حساب موثّق

{{comment.ElapsedTime}}
loader Train
loader Train
Sorry: the validity period has ended to comment on this news
Opinions expressed in the comments section do not reflect the views of Argaam. Abusive comments of any kind will be removed. Political or religious commentary will not be tolerated.

Related News

Three Abu Dhabi banks said to weigh merger plan

Popular Links

Quick Links

Join Us

Argaam.com Copyright © 2024, Argaam Investment, All Rights Reserved
Call Request