The corporate logo of Abu Dhabi Islamic Bank is seen in Dubai, United Arab Emirates, December 31, 2018. REUTERS/Hamad I Mohammed
Citing unnamed sources, Bloomberg reported on Wednesday that Abu Dhabi was considering merging the two lenders to create the Gulf region’s largest lender. First Abu Dhabi Bank, the largest lender in the United Arab Emirates, in a bourse filing said it “strongly denies the report issued by Bloomberg on the potential merger”.
There has been speculation in recent months of more possible banking tie-ups in light of the wave of consolidation sweeping Abu Dhabi.
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