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Abu Dhabi's NBAD, FGB agree to merge to create a US$175b bank

Deal is subject to shareholders' approval and will be executed via a share swap
Monday, July 4, 2016 - 05:50

Dubai

THE board of directors at National Bank of Abu Dhabi PJSC (NBAD) and First Gulf Bank PJSC (FGB) have agreed to a merger that will create a lender with US$175 billion assets in the first quarter of 2017.

The deal, which is subject to shareholders' approval, will be executed