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CI Seminars

CI Seminars

News & Credit Rating Announcements

07 February 2019 | Country: UAE

Abu Dhabi Commercial Bank’s Merger with Union National Bank and Al Hilal Bank has Favourable Implications


The boards of two Abu Dhabi-based banks, Abu Dhabi Commercial Bank (ADCB), the United Arab Emirates' third largest bank, and Union National Bank (UNB), the country's seventh largest bank, have approved a merger of the two entities. Both banks have Long- and Short-Term Foreign Currency Ratings (FCRs) of 'A+' and 'A1+' respectively, and a Support Rating of '1'. The Financial Strength Rating of ADCB is 'A' while that of UNB is 'A+'. All the ratings of both banks carry a Stable Outlook.


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