Thursday, 2 October 2008

Abu Dhabi banking consolidation on the way?

Speculations that Abu Dhabi's three leading banks may merge has now reached feaver pitcg. In the past couple of days the rumour mill has been working overtime. They say that the Abu Dhabi Commercial Bank (ADCB) and First Gulf Bank may be merged, while other see a merger happening with National Bank of Abu Dhabi.

The share prices of Abu Dhabi Commercial Bank rose 8.62 per cent. The Abu Dhabi based banks have strong balance sheets and have delivered good earnings.

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