To Hilal Bank, Abu Dhabi Bank and the National Bank of Union
The Board of Directors of ADCB and the National Union Bank have proposed to propose the merger of the two banking centers. The unification is subject to a regulatory agreement and shareholders and is expected to be received in the coming weeks.
Their new banking firm is recognized by the Commercial Bank of Abu Dhabi and will, benefiting from strong foundation support through the ownership of the Abu Dhabi Government through the Abu Dhabi Investment Council, which is said to have been issued by the Abu Dhabi Commercial Bank and the National Union Bank. Al Hilal Bank will maintain its current name and logo and will work as a separate Islamic banking unit within the new body.
ADC affirms its position as the largest third largest financial center in the UAE and becomes the fifth largest banking center in the EPA with a total assets of AED 420 billion (US $ 114 billion). It is expected that the level of customer purchases will be around 1 million and its market share in the UAE will be September 30% 15% of the total fund of assets, 21% of Total consumer loans and 16% of the total bank deposits.
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