IslamicFinance.de

First Abu Dhabi Bank (FAB) said it was not in merger talks with Abu Dhabi Islamic Bank. Citing unnamed sources, Bloomberg reported in April 2019 that Abu Dhabi was considering merging the two lenders to create the Gulf region's largest lender. There has been speculation over the past year of more banking tie-ups in light of a wave of consolidation sweeping Abu Dhabi. With around 50 banks, the crowded UAE banking sector has been squeezed by lower government spending and thinner profit margins.