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 – Gulf Business

Continue Reading

Singapore bank DBS to ‘almost double’ Dubai private banking staff by 2023 – Gulf Business

DBS, Southeast Asia’s largest bank, said it would almost double its Dubai private banking staff in its bid to triple revenue for those operations in the Middle East by 2023, capitalising on a shift of investments towards Asia. The Singapore bank is joining Citibank and other global lenders expanding wealth management operations in the region. The prospective client base includes wealthy Middle East business people, family offices and non-resident Indians. Source: Singapore bank DBS to ‘almost double’ Dubai private banking staff by 2023 – Gulf Business

Continue Reading