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National Bank of Abu Dhabi and First Gulf Bank, two prominent banks in Abu Dhabi, announce their merger plan. The boards of both banks recommend a share-swap transaction to create a banking giant with $175 billion in assets and a focus on emerging markets. This strategic merger positions the new entity as a major player in the Middle East banking sector, surpassing the market value of global banks like Standard Chartered and Deutsche Bank.
Saturday, 2 July, 2016