Following the decision of the Boards of Directors of First Gulf Bank, FGB, and the National Bank of Abu Dhabi, NBAD, to recommend to shareholders a merger of the two Abu Dhabi-listed banks, His Highness Sheikh Mohamed bin Zayed Al Nahyan, Crown Prince of Abu Dhabi and Deputy Supreme Commander of the UAE Armed Forces, said, "The continued growth of our nation's economy relies on an empowered private sector that contributes to the UAE's dynamic and sustainable business environment. The merger of FGB and NBAD will create high-value opportunities for the people of the UAE and further breadth to be internationally competitive, core aims of Abu Dhabi's Economic Vision 2030 and in keeping with the UAE's long term economic ambition."

Source: WAM