Two banks discuss merger

Two banks discuss merger




The National Bank of Abu Dhabi (NBAD) and First Gulf Bank (FGB) have revealed they have opened discussions about a potential merger.

The lenders both have offices in the UK, with the National Bank of Abu Dhabi using London as its hub for regional activities in Europe. 

In a joint statement, the banks revealed that they had formed a working group made up of senior executive management to review the commercial potential along with any legal and structural aspects of a merger or combination. 

Following the review the groups will also provide its recommendations to the boards of directors for each bank.

“At this time, there is no certainty that discussions between NBAD and FGB will result in a merger or combination,” the banks concluded. 

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