Banks in Abu Dhabi are set to merge later in this quarter which is set to impact UAE in several ways. ADCB (Abu Dhabi Commercial Bank) and UNB (Union National Bank) are set to merge. The combined company is then to acquire Al Hilal bank which is still set to act as a separate Islamic bank entity in this new group. It is expected for the final merged and acquired company to remain under the name of ADCB. This is the most recent merge of banks after the merger of National Bank of Abu Dhabi and First Gulf Bank last year. In addition to this, there has also been recent news about a potential merger of some local banks in Sharjah.
Bank Mergers in the UAE Market