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25 May 2024

First Abu Dhabi Bank denies Bloomberg merger report

By Wam

The First Abu Dhabi Bank, FAB, has denied a media report published by Bloomberg on Wednesday regarding an alleged merger between the bank and Abu Dhabi Islamic Bank, ADIB.

A spokesperson for FAB said, "Whilst the bank does not comment on speculation, FAB strongly denies the report issued by Bloomberg on the potential merger between FAB and ADIB."

"FAB currently has not entered discussions with ADIB to pursue any merger activity. Following the recent completion of our integration process, the bank is fully focused on unlocking its full potential and maximising shareholder value in 2019," the spokesperson added.