United Arab Emirates regulator, the Securities and Commodities Authority (ADX), has issued a certificate completing the merger of First Gulf Bank and the National Bank of Abu Dhabi, in a deal which creates the largest banking entity in the Middle East. The ADX has set 30 March as the last day of shares trading in the two banks, while the new shares will begin trading on the Abu Dhabi Securities Exchange (SCA) on 2 April. At the end of 2016, the combined assets of the two banks were estimated at AED665.8bn ($181bn).
United Arab Emirates regulator, the Securities and Commodities Authority (SCA), has issued a certificate completing the merger of First Gulf Bank and the National Bank of Abu Dhabi, in a deal which creates the largest banking entity in the Middle East. The SCA has set 30 March as the last day of shares trading in the two banks, while the new shares will begin trading on the Abu Dhabi Securities Exchange (ADX) on 2 April. At the end of 2016, the combined assets of the two banks were estimated at AED665.8bn ($181bn).