Over 20 Gulf financial institutions with $1t total assets in merger talks

Photo: Bloomberg

More than twenty Gulf financial institutions with total assets exceeding $1 trillion are in merger talks, part of an unprecedented wave of consolidation in the region’s financial industry. Here’s an overview:

Abu Dhabi Islamic Bank and First Abu Dhabi Bank

Talks are said to be underway in Abu Dhabi for a possible tie-up between Abu Dhabi Islamic Bank PJSC with First Abu Dhabi Bank PJSC, a merger that would create one of the Middle East’s largest lenders. FAB last month said it “currently has not entered discussions with ADIB to pursue any merger activity,” while ADIB said it’s currently not studying a merger with other lenders Combined assets: About $234 billion Story: Abu Dhabi Said to Weigh Merger to Create Top Mideast Lender

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