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FinancialNews


  • 05-11-20

    Abu Dhabi Commercial Bank centers its attention to local marketplace

    (MENAFN) Abu Dhabi Commercial Bank PJSC, which finalized a three-way union back in May, arranges to leave procedures in Qatar and Kuwait to center its attention on Abu Dhabi's marketplace.

    According to announcements, the bank began its procedures to shut down operations in the mentioned countries and has given notice to the appropriate authorities. This move follows the bank's decision to sell the greater part of its banking portfolio in India to DCB Bank Ltd.

    Abu Dhabi Commercial Bank joined with local competitors Union National Bank PJSC and Al Hilal Bank PJSC making the union the Gulf region's fifth-biggest lender with USD110 billion in resources.

    MENAFN05112020000045011369ID1101076083

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