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ADCB And UNB May Soon Merge To Create A Mega UAE Bank

ADCB UAE

Abu Dhabi Commercial Bank (ADCB) and Union National Bank (UNB) have both issued statements confirming that talks are underway about a possible merger.

Abu Dhabi Commercial Bank (ADCB) and Union National Bank (UNB) have both issued statements confirming that talks are underway about a possible merger.

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It should be stressed that both statements described discussions as being at “a very preliminary stage”.

A recent Bloomberg report stated that the talks are actually three-way and involve Al Hilal Bank as well as ADCB and UNB. A merger of the three would create an entity with assets of around USD 110 billion.

It would also be the fifth largest bank in the GCC and would follow the recent merger of National Bank of Abu Dhabi and First Gulf Bank to create First Abu Dhabi Bank.

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Any merger of the two or three banks would undoubtedly create opportunities to boost internal efficiency, though whether or not it would make any real difference to customers would only be seen over time.

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