Proposal to Merge UAE Banks
World Economy

Proposal to Merge UAE Banks

The boards of directors at National Bank of Abu Dhabi and First Gulf Bank have recommended merging the two lenders, a joint statement said on Sunday, with the deal expected to be completed in the first quarter of 2017, Reuters reported. Last week, the government ordered the merger of state investment funds Mubadala and International Petroleum Investment Company. Retaining the brand name National Bank of Abu Dhabi, the merger will create one of the largest banks in the Middle East and Africa, with assets of 642 billion dirhams ($174.8 billion).

Short URL : http://goo.gl/aEKP4e
  1. http://goo.gl/le5sSA
  • http://goo.gl/JVGDNc
  • http://goo.gl/mcgdQA
  • http://goo.gl/Hf9n2J
  • http://goo.gl/a46Y3S

You can also read ...

Closing Africa’s Wealth Gap
From “Africa Reeling” to “Africa Rising”, there’s a new...
Venezuela Wants to Improve Economy
Venezuelan Labor Minister Eduardo Pinate says the Bolivarian...
GDP expanded 6.8% year-on-year in the Q1.
With growth resilient and progress made in the pursuit of high...
Asian countries form a crucial part of the supply chain for many of the Chinese electronics the US has slapped with tariffs.
The mounting trade tensions between the US and much of the...
The accumulated improvement in the structural balance since 2015 amounted to 0.7% of GDP.
The European Council closed the excessive deficit procedure...
New Whistleblower Rises Against India’s ICICI Bank
India’s private lender ICICI Bank has been identified as a...
Bitcoin Falls to Four-Month Low
Bitcoin dropped to a more than four-month low on Friday,...
Italy’s New Gov’t Facing Daunting Challenges
Italy’s Five Star Movement and the Lega party managed to form...