Standard Chartered shares jump 20% on reports of takeover from Abu Dhabi
bank merger
Latest in bank merger
Ahli United Bank
Kuwait Finance House to buy Bahrain’s Ahli United for $11.6 billion after years of hold up
Mergers and acquisitions in the Middle East’s banking sector have gained traction in recent years – mainly driven by economic pressure due to lower energy revenues and the impact of the pandemic
Bank Audi
First Abu Dhabi Bank completes legal merger of Bank Audi Egypt
Customers will be able to conduct their banking transactions and services in all branches under the new brand called FABMISR
Abu Dhabi
ADCB “categorically denies” reports of merger with First Abu Dhabi Bank
The banks are two of the biggest in Abu Dhabi, and any deal would have potentially created one of the largest Middle East lenders by assets.
Bank Audi
UAE banking giant says Egyptian takeover deal to be completed in 2022
First Abu Dhabi Bank initiates the process of share transfer for 100% of the share capital of Bank Audi (Egypt)
bank merger
The threat of more bank mergers in the post-pandemic GCC region
The myth of “too big to fail” just doesn’t hold up and bank mergers result in more pricing power for large banks that eliminate market choices, says Dr Sheikh Selim
bank merger
Why UAE banks are in no rush towards consolidation
Latest UAE Banking Pulse report from Alvarez & Marsal reveals aggregate net profit of the top 10 banks in the country declined by 38.3% year-on-year
Bank Audi
First Lebanese banking merger since 2019 agreed as capital pressures rise
Bank Audi says it is merging the local business operations of Audi Private Bank and Audi Investment Bank into its business
bank merger
UAE bank CBI said to trim workforce by 18%
Sources say Commercial Bank International plans to reduce staffing levels through voluntary redundancy plan
Ahli United Bank
Kuwait Finance House plans $8.8bn deal for Bahraini bank
Kuwaiti lender has offered to buy Bahrain’s Ahli United Bank in an all-share deal
Abu Dhabi Financial Group
Dubai’s Shuaa Capital reports $15m losses ahead of ADFG merger
Dubai-based Shuaa Capital posts loss in the first half of 2019 due to one-off costs related to its merger with Abu Dhabi Financial Group
bank merger
GCC Islamic bank mergers likely to increase, says Fitch
New research says consolidation should ultimately be positive for the Islamic banking sector by creating larger, stronger and more efficient banks
Abu Dhabi Commercial Bank
Abu Dhabi’s ADCB quarterly profit drops 11% on cost of funds
Abu Dhabi Commercial Bank combined with local rivals Union National Bank and Al Hilal Bank to create the Gulf region’s fifth-biggest lender
Abu Dhabi Commercial Bank
Abu Dhabi Commercial Bank said to mull 2,000 job cuts after merger
Sources say state-controlled bank started cutting job once it began combining with Union National Bank and Al Hilal Bank
bank merger
Why a second merger wave may hit UAE lenders
Bloomberg Intelligence report say banks in the UAE are seeking to improve profitability and tackle inefficiencies
bank merger
Dubai Islamic Bank approves plan to acquire Noor Bank
The acquisition will consolidate Dubai Islamic Bank’s position as one of the largest Islamic banks in the world, with combined assets of $76bn
bank merger
Commercial Bank of Dubai dismisses reports of possible merger
More than 20 Gulf financial institutions with total assets exceeding $1 trillion are said to be in merger talks