Abu Dhabi's NBAD, FGB in talks to form top Middle East bank
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Dubai
NATIONAL Bank of Abu Dhabi PJSC (NBAD) and First Gulf Bank PJSC (FGB) said they're in talks to merge in a deal that would create the largest lender by assets in the Middle East.
A group of senior executives from each of the banks is reviewing the commercial, structural and legal aspects of a potential transaction, according to a filing to the Abu Dhabi stock exchange on Sunday. Bloomberg News was first to report the two lenders were considering a merger on June 16.
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