Abu Dhabi banks ADCB, UNB and Al Hilal to merge creating UAE’s third largest lender – Gulf Business

UAE lenders Abu Dhabi Commercial Bank (ADCB) and Union National Bank (UNB) have confirmed plans to merge and together acquire Al Hilal Bank to create the country’s third largest lender. The new banking group will carry the ADCB identity and will continue to have institutional backing from its biggest stakeholder – the Abu Dhabi government, a statement said. Source: Abu Dhabi banks ADCB, UNB and Al Hilal to merge creating UAE’s third largest lender –

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Bank of England votes 6-3 to hold base rate at 0.5% | Mortgage Introducer

The Bank of England has voted to hold the base rate at 0.5% with a 6-3 MPC split, indicating that the rate could rise in August. Three Monetary Policy Committee members, including the Bank’s chief economist, Andrew Haldane, voted to raise rates to 0.75%. Governor of the Bank of England Mark Carney voted to hold rates at 0.5%. Source: Bank of England votes 6-3 to hold base rate at 0.5% | Mortgage Introducer

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Britons unprepared for a potential hike in interest rates | Mortgage Introducer

With today marking one month until the Bank of England (BoE) will announce if there is to be an increase in interest rates, almost half (47%) of Britons are unaware of a possible increase. CYBG’s digital banking service B also found over half (57%) admitted to not fully understanding how a rise in interest rates will impact their financial situation. Source: Britons unprepared for a potential hike in interest rates | Mortgage Introducer

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