Bank mergers UAE

General UAE market related topics, or see other categories for companies in the UAE and rest of the world.

Advertisements
 

Bank mergers UAE

Postby sharewadi » Thu 22 Mar 2007 12:00

There was a piece in the Khaleej Times today with more commentary about the NBD EBI bank merger announced early in March 2007.

Included were some comments about other possible bank mergers...

Interesting that NBAD and ADCB were named as possible candidates. Both of them made comments recently that could be interpreted as if they were considering a merger (not necessarily with each other)...

ADCB considering mergers and acquisitions ... or not? 19 Mar 2007
NBAD to consider mergers after NBD-EBI announcement - R 11 Mar 2007
MASQ looking at regional bank mergers and acquisitions - GN 22 Mar 2007

Khaleej Times 22 Mar 2007 wrote:And NBD chairman, Abdulla Mohammed Saleh, said: "The merger gives us the advantage to capitalise on the unique strengths of both banks to serve our customers better and deliver greater shareholder value."

Within the wider financial community, there is also the expectation that the NBD-EBI merger will open the door for other bank mergers across the region. As CEO of Dubai Bank, Abdulaziz Al Muhairi, commented to Khaleej Times:

"Particularly in focus will be the two large Abu Dhabi banks, National Bank of Abu Dhabi (NBAD) and Abu Dhabi Commercial Bank (ADCB), that are primed for a possible merger with other banks (or possibly even between themselves) as the EBI/NBD merger relegates them to lower rungs of the 'largest UAE banks' ladder."

"Additionally, in view of the number of bilateral trade agreements (FTAs) under negotiation between the UAE and a number of countries/blocks, as well as the World Trade Organisation (WTO) agreement, there is the threat of super-sized banks from major money centres in the US, Europe and other regions entering the UAE banking scene and intensifying the competition. Therefore, it would definitely be in the interests of smaller banks in the UAE to merge, in order to compete with such colossuses that are set to appear.

"Not to mention the fact that, by some accounts, the UAE, with more than 47 banks in operation, is over-banked and consolidation in the banking sector is inevitable."


See also...

NBD, EBI merger signals tougher times for the UAE banks? AME 07 Mar 07
Banks in UAE slammed by Dubai Police Chief for bad loans - GN 21 Mar 07
UAE banks - project financing growing faster than deposits GN 17 Mar 07
NBD/EBI and UAE bank mergers - EFG-Hermes report 25 Mar 2007

[edit] Removed 2007 from topic title since 2008 topics also included now [/edit]
Last edited by sharewadi on Sun 15 Jun 2008 22:10, edited 2 times in total.
Please read forum posting guidelines, especially if you have been deactivated.
User avatar
sharewadi
moderator
 
Posts: 14591
Joined: Fri 19 Aug 2005 11:10
Location: up the wadi without a paddle

More possible mergers this week

Postby sharewadi » Thu 05 Apr 2007 09:32

A few more speculative comments...

ADIB-ADCB possible merger? ET 05 Apr 2007
UNB-ADCB bank merger? GN 05 Apr 2007
AMLAK merger or acquisition by bank? EFG-Hermes 03 Apr 2007
Please read forum posting guidelines, especially if you have been deactivated.
User avatar
sharewadi
moderator
 
Posts: 14591
Joined: Fri 19 Aug 2005 11:10
Location: up the wadi without a paddle

UAE bank shares up Sun 08 Apr 2007 - DIB rumours denied

Postby sharewadi » Sun 08 Apr 2007 11:35

Some heavy trading and strong rises in some DFM and ADSM bank shares today. The share market doesn't appear to think much of all the denials of bank mergers recently then?

ADIB up 5% so far
DIB up 3% (on strong volume)
FGB up 3% (on huge volume - but mostly due to one trade of almost 7m shares at 11.45 dhs)
UNB up 3%

ADSM and DFM market indexes up about 1% so far.

Here's another possibility to add to the list...

DIB not bidding for Egypt's National Development Bank - GN 08 Apr 2007

[edit 09 Apr 2007]Change that to ADIB: ADIB may buy stake in Egypt's NDB bank - 09 Apr 2007[/edit]
Please read forum posting guidelines, especially if you have been deactivated.
User avatar
sharewadi
moderator
 
Posts: 14591
Joined: Fri 19 Aug 2005 11:10
Location: up the wadi without a paddle

More Dubai Abu Dhabi bank merger stories...

Postby sharewadi » Tue 12 Jun 2007 09:27

Topics new or updated recently...

NBD/EBI and UAE bank mergers - EFG-Hermes report 25 Mar 2007
ADIB may buy stake in Egypt's NDB bank - 09 Apr 2007
UNB to merge or takeover UAE bank [rumour] ET 24 May 07
MASQ to buy Egypt's Al Watany Bank ... or not? 30 May 2007
TAMWEEL to partner with Egypt's CIB?
EMAAR - Dubai Bank may buy Gulf Arab lender - R 10 Jun 07
NBAD actively seeking bank mergers - GN 12 June 2007
Please read forum posting guidelines, especially if you have been deactivated.
User avatar
sharewadi
moderator
 
Posts: 14591
Joined: Fri 19 Aug 2005 11:10
Location: up the wadi without a paddle

More merger topics 12 Jun - 09 Jul 2007

Postby sharewadi » Mon 09 Jul 2007 11:24

Last edited by sharewadi on Fri 17 Aug 2007 11:36, edited 1 time in total.
Please read forum posting guidelines, especially if you have been deactivated.
User avatar
sharewadi
moderator
 
Posts: 14591
Joined: Fri 19 Aug 2005 11:10
Location: up the wadi without a paddle

Bank mergers - news from 09 Jul to 16 Aug 2007

Postby sharewadi » Fri 17 Aug 2007 11:25

Please read forum posting guidelines, especially if you have been deactivated.
User avatar
sharewadi
moderator
 
Posts: 14591
Joined: Fri 19 Aug 2005 11:10
Location: up the wadi without a paddle

UAE Bank mergers 17 Aug 07 - 27 Jan 08

Postby sharewadi » Mon 28 Jan 2008 08:40

UNB FGB merger? Denied by UNB - R 27 Jan 08
ENBD Emirates NBD shares list on DFM - 16 Oct 2007
CIB merger talk with Arab African Bank - ADSM 01 Oct 2007
CIB may merge with Arab African International Bank - AAW 01 Aug 2007
NBAD ADCB merger ... again ... 12 Sep 2007
EFG-Hermes report on UAE bank stocks, some [BUY] ratings 05 Sep 2007
Bank mergers in the region booming - FN 17 Aug 2007

[edit] more bank merger topics [/edit]

NBAD Ahli Bank merger 15 June 2008 (promptly denied by NBAD)
NBAD ADCB merger - rumours continue in October and November 2008
Mashreq bank merger - ready to merge with other banks - 09 November 2008
Please read forum posting guidelines, especially if you have been deactivated.
User avatar
sharewadi
moderator
 
Posts: 14591
Joined: Fri 19 Aug 2005 11:10
Location: up the wadi without a paddle


Advertisements
 


Return to UAE stock market forum

Who is online

Users browsing this forum: No registered users and 4 guests