Two of Abu Dhabi’s three largest banks – National Bank of Abu Dhabi (NBAD) and First Gulf Bank (FGB) – are to merge, following the green light from their boards of directors.
The merger, announced on 3 July, will create the Middle East’s largest bank with combined market capitalization of $29bn and total assets of $175bn. They had previously confirmed that discussions were underway last month. (CONTINUED - 485 WORDS)
