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NBAD and FGB to Create Middle Eastís Biggest Bank

Source: Reuters 12/7/2016, Location: Middle East

National Bank of Abu Dhabi (NBAD) secured shareholders' assent to merge with First Gulf Bank (FGB) at a meeting, a spokesman for NBAD said.

The pair announced in July that their boards had approved the tie-up, which will create one of the largest banks in the Middle East and Africa with assets of around $175 billion.

Shareholders of FGB will meet to vote on approving the merger.

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Related Categories: Accounting, Statistics  Acquisitions and Divestitures  Asset Portfolio Management  Economics/Financial Analysis  General  Industrial Development  Insurance  Investment  Mergers and Acquisitions  Risk Management 

Related Articles: Accounting, Statistics  Acquisitions and Divestitures  Asset Portfolio Management  Economics/Financial Analysis  General  Insurance  Investment  Mergers and Acquisitions  Risk Management 


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