First Abu Dhabi Bank (FAB) has strongly denied a report about a potential merger of the bank with Abu Dhabi Islamic Bank (ADIB).
A statement quoting a spokesperson from the financial institution says FAB has currently not entered discussions with ADIB to pursue any merger activity.
It says, following the recent completion of its integration process, the bank is focused on unlocking its full potential and maximising shareholder value in 2019.
ADIB also issued a statement saying it’s currently not studying a merger with other lenders.
A report on Bloomberg said the two could be combined to create the Middle East’s largest lender.
It quoted unnamed sources with knowledge of the matter.
DP World launches 36-hour Dubai-Iraq sea link
Parkin expands into Abu Dhabi under partnership with DAMAC
Dubai hosts Sustainable Bio International Forum
TerraUSD creator Do Kwon sentenced to 15 years over $40 billion crypto collapse
BRIDGE Summit drives $200 million deal to boost UAE's media sector
