trading in shares of combined nbadfgb to start on april 2
Last Updated : GMT 09:03:51
Almaghrib Today, almaghrib today
Almaghrib Today, almaghrib today
Last Updated : GMT 09:03:51
Almaghrib Today, almaghrib today

Trading in shares of combined NBAD-FGB to start on April 2

Almaghrib Today, almaghrib today

Almaghrib Today, almaghrib today Trading in shares of combined NBAD-FGB to start on April 2

The merger is expected to produce cost savings of about Dh500 million
Abu Dhabi - Arab Today

Trading in new shares of the merged National Bank of Abu Dhabi and FGB will start on April 2, according to the Abu Dhabi Securities Exchange.
The trading starts a day after the official merger of the two banks on April 1, it said.
The price of the new shares will be based on the indicative price of the shares of both companies before the merger
Both shares of NBAD and and FGB closed unchanged at Dh10.1 and Dh13 respectively at the close of trading on the Abu Dhabi stock exchange.
The merger, which was approved by shareholders of both banks on December 7, was done in part to cut down on costs by removing duplicate posts and sharing resources.
The combination has been approved by the Central Bank of the UAE but requires further approval from international regulators and the Securities and Commodities Authority.
These are expected towards the end of the first quarter of this year, the banks said in December.
The move is expected to produce cost savings of about Dh500 million a year from 2019, according to research from the Egyptian investment bank EFG-Hermes.
Even though NBAD, the biggest bank by assets in the UAE, has made headway in building its consumer banking business, it will get a boost from joining forces with FGB, which has more loans to individuals on its books.
FGB’s retail book is about 40 per cent of its total loans, while NBAD’s consumer lending portfolio makes up just 17 per cent of its outstanding loans.
Investors have backed the combination, especially as NBAD is considered one of the safest banks in the world; its high credit ratings will allow it to borrow money cheaply on behalf of the new entity, which will have assets of US$178 billion, making it one of the largest in the Middle East and North Africa.

Source: The National

almaghribtoday
almaghribtoday

Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

trading in shares of combined nbadfgb to start on april 2 trading in shares of combined nbadfgb to start on april 2

 



Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

trading in shares of combined nbadfgb to start on april 2 trading in shares of combined nbadfgb to start on april 2

 



Almaghrib Today, almaghrib today Skincare PR Performance Full Year 2017

GMT 09:22 2018 Monday ,22 January

Skincare PR Performance Full Year 2017
Almaghrib Today, almaghrib today New hunt for flight MH370 gets under way

GMT 11:03 2018 Wednesday ,24 January

New hunt for flight MH370 gets under way
Almaghrib Today, almaghrib today Modern colorful bedroom renovation

GMT 10:57 2017 Thursday ,21 December

Modern colorful bedroom renovation
Almaghrib Today, almaghrib today Puigdemont candidate for Catalan president

GMT 13:56 2018 Tuesday ,23 January

Puigdemont candidate for Catalan president
Almaghrib Today, almaghrib today Turkey detains dozens more

GMT 10:47 2018 Wednesday ,24 January

Turkey detains dozens more
Almaghrib Today, almaghrib today The Rake announces editorial updates

GMT 10:46 2018 Tuesday ,16 January

The Rake announces editorial updates
Almaghrib Today, almaghrib today Europe brings on charm and blue skies

GMT 11:51 2018 Tuesday ,23 January

Europe brings on charm and blue skies
Almaghrib Today, almaghrib today For the Variety of Interior Design Styles

GMT 10:46 2017 Tuesday ,19 December

For the Variety of Interior Design Styles
Almaghrib Today, almaghrib today US Christian tourists see deep meaning

GMT 13:44 2018 Monday ,22 January

US Christian tourists see deep meaning
Almaghrib Today, almaghrib today Amazon to open first cashierless shop

GMT 10:03 2018 Tuesday ,23 January

Amazon to open first cashierless shop

GMT 22:57 2015 Monday ,23 February

Bahraini Shura chairman presented book

GMT 14:59 2014 Thursday ,10 July

Small studio apartment in Manhattan

GMT 07:55 2017 Saturday ,08 April

Sherine Reda happy for “Hell’s Stone” success

GMT 08:58 2012 Sunday ,30 December

11 children killed in Syria bombardments

GMT 19:08 2012 Wednesday ,10 October

Lienen named AEK coach

GMT 03:22 2012 Monday ,20 February

Tourism gets priority in Oman development

GMT 20:21 2016 Sunday ,17 January

President of Mexico leaves Riyadh after 2-day visit

GMT 22:01 2012 Tuesday ,20 November

Schneider\'s wife gives birth to daughter

GMT 06:20 2012 Monday ,25 June

Qatar to bid for 2024 Summer Olympic Games

GMT 07:55 2017 Wednesday ,29 March

BDF Chief patronises 3rd mass wedding

GMT 20:08 2014 Tuesday ,21 October

Egypt denies military involvement in Libya

GMT 06:41 2013 Saturday ,03 August

Blast near Indian consulate in Afghanistan

GMT 19:46 2013 Wednesday ,23 October

Attack near Damascus causes power outage across Syria

GMT 16:25 2015 Thursday ,05 March

Canada pastor held by North Korea

GMT 20:51 2012 Sunday ,01 July

Foreign trade crucial to UAE

GMT 12:06 2011 Wednesday ,03 August

South Sudan rebel group declares ceasefire

GMT 07:59 2017 Thursday ,27 April

Bahrain’s democratic strides hailed
Almaghrib Today, almaghrib today
 
 Almaghrib Today Facebook,almaghrib today facebook  Almaghrib Today Twitter,almaghrib today twitter Almaghrib Today Rss,almaghrib today rss  Almaghrib Today Youtube,almaghrib today youtube  Almaghrib Today Youtube,almaghrib today youtube

Maintained and developed by Arabs Today Group SAL.
All rights reserved to Arab Today Media Group 2021 ©

Maintained and developed by Arabs Today Group SAL.
All rights reserved to Arab Today Media Group 2021 ©

.almaghribtoday .almaghribtoday .almaghribtoday .almaghribtoday
almaghribtoday almaghribtoday almaghribtoday
almaghribtoday
بناية النخيل - رأس النبع _ خلف السفارة الفرنسية _بيروت - لبنان
almaghribtoday, Almaghribtoday, Almaghribtoday