Abu Dhabi Commercial Bank denies report of its merger with First Abu Dhabi Bank
ADCB’s denial comes in response to a report published in Al Arabia.net
Image Credit: Gulf News
Dubai: Abu Dhabi Commercial Bank (ADCB) has denied a press report on merger talks with First Abu Dhabi Bank (FAB) in a letter to Abu Dhabi Securities Exchange where its shares are listed.
ADCB’s denial comes in response to a report published in Al Arabia.net on March 8. “Abu Dhabi Commercial Bank categorically denies the false content of the article about a potential merger with First Abu Dhabi Bank,” ADCB said in a statement published on ADX.
“ADCB is successfully implementing a five-year strategy and has been updating the market through regular disclosures including the bank’s website, annual report and quarterly reports,” the bank said.