Who's Talking to Whom as Record #Merger Wave Shakes Up Gulf Banks
Bloomberg provides an overview of which lenders are in merger talks and where those conversations are at. Talks are underway in Abu Dhabi for a possible tie-up between Abu Dhabi Islamic Bank with First Abu Dhabi Bank, a merger that would create one of the Middle East’s largest lenders. Saudi Arabia’s biggest lender National Commercial Bank said at the end of 2018 that it’s starting initial talks with Riyad Bank. This deal would form the Gulf’s third-biggest lender. Dubai’s largest bank Emirates NBD is buying Turkey’s Denizbank for $2.8 billion. The three-way merger of Abu Dhabi Commercial Bank, Union National Bank and Al Hilal creates the fifth-biggest lender in the Gulf.
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