Deals
Abu Dhabi Banks Said in Talks to Form Biggest Middle East Lender
- National Bank of Abu Dhabi, First Gulf Bank explore merger
- Discussions are at an early stage and may not lead to deal
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National Bank of Abu Dhabi PJSC and First Gulf Bank PJSC are exploring a potential merger to create the largest lender in the Middle East, according to people with knowledge of the matter.
Discussions about a combination are preliminary, the people said, asking not to be identified because the talks are private. While negotiations are ongoing, NBAD and FGB may decide against pursuing a merger, said the people. NBAD and FGB both said it is not their policy to comment on speculation or rumor.