Merge of Three UAE Banks to make the Fifth Largest Bank among Gulf Countries

PUBLICATIONS / Articles / 2019 / Merge of Three UAE Banks to make the Fifth Largest Bank among Gulf Countries
While business sector is worried about reliability of banks around the world, UAE banks are growing stronger. Abu Dhabi Commercial Bank, Union National Bank, and Al Hilal Bank agreed to merge into the third largest bank in the UAE and become the fifth largest bank with AED 420 billion or $114.35 billion in the GCC. 

The talks on merge started back in September 2018. Eventually the decision was taken to booster banks productivity and no doubts it will increase the competitiveness of the UAE among the GCC. 

There 50 commercial banks including 22 local lenders in the UAE. Experts estimate the number as high with a population of 9.5 million. To compare, Saudi Arabia has 12 banks with the population of 32 million people. 

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