Dubai’s Arqaam Sees Abu Dhabi Commercial Bank Buying Rival UNB

Updated on
  • Brokerage ‘pretty confident’ Abu Dhabi banks looked at merger
  • ADCB, UNB shareholding structure supportive of a combination

Abu Dhabi Commercial Bank PJSC will probably buy smaller rival Union National Bank PJSC in the next 12 to 18 months as the planned merger of Abu Dhabi’s two biggest banks boosts consolidation in the United Arab Emirates’ banking industry, Arqaam Capital Ltd. said.

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