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FAB and ADIB deny merger talks

Thursday, 4 April 2019 13:35

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.

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