Abu Dhabi Three-Way Merger Turns Focus on `Last Bank Standing'
- Abu Dhabi Islamic Bank’s stock rises in heavy volume
- Emirate mulls combination of lenders ADCB, UNB and Al-Hilal
This article is for subscribers only.
A potential three-way bank merger in the United Arab Emirates is boosting the stock of a lender that’s not even involved in the deal: Abu Dhabi Islamic Bank PJSC.
ADIB’s shares climbed in high volumes as investors speculate that it will be the next to join the race to consolidate. The stock lagged behind only the two local competitors that might be soon announcing a deal to create the fifth-largest bank in the six-nation Gulf Cooperation Council.