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.
UAE becomes top 10 global exporter, WTO figures show
ADNOC Gas says domestic demand still being met after Habshan attack
OPEC+ adjusts output by 206,000 bpd from May
More than 2,700 firms join Dubai Chamber of Commerce in March
UAE maintains strong credit rating with stable outlook after Moody’s review
