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FINANCIAL NEWS
NBAD, FGB in talks for promising merger
19 Jun 2016
(MENAFN) National Bank of Abu Dhabi (NBAD), and First Gulf Bank (FGB) has launched a week-long talks over a possible merger or a combination.
Additionally, some citing sources aware of the matter stated on Thursday that the two financial institutes were in preliminary talks on a union.
Upon the merger, the groups will provide their recommendations to their respective boards of directors. The merger would create the largest bank by assets in MENA.
Moreover, the banks said each lender had launched a working group to “review the commercial potential along with any legal and structural aspects of the merger.
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