Abu Dhabi – Mubasher: The stock of First Abu Dhabi Bank (NBAD), the combined entity of National Bank of Abu Dhabi (NBAD) and First Gulf Bank (FGB), rose in its first day of trading.
The stock rose 0.98% to AED 10.35 by 1:25pm GMT, with a turnover of AED 30.89 million generated from the exchange of 2.97 million shares through 206 transactions.
NBAD announced earlier that its merger with First Gulf Bank (FGB) has become effective on the close of trading on 30 March 2017, according to a statement.
The new bank is now the “largest” bank in UAE and the MENA region with total assets of AED 670 billion ($180 billion).
