By Mahmoud Gamal
Abu Dhabi – Mubasher: National Bank of Abu Dhabi (NBAD) and First Gulf Bank (FGB) are holding their general meetings today to discuss the merger agreement between the two banks.
Market Analyst Waddah Al Taha said this merger is likely to prompt other banks to take similar steps, expecting their Q4 financial results to be affected by this deal.
If approved, the deal will have a positive impact on the two banks' stocks, the analyst added.
Earlier, NBAD announced discussing a capital hike from AED 5.25 billion to AED 10.89 billion as of the merger date.
This integration is likely to create the biggest banking entity in the Middle East with assets worth AED 660.9 billion ($179.9 billion), according to Bloomberg.
