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ADCB And FAB Merger: The Bank Responds And Denies The Alleged Merger

In recent exclusive news released by, the news outlet claimed that Abu Dhabi Commercial Bank and First Abu Dhabi Bank are close to finalizing a merger between the two institutions.

According to, the alleged ADCB and FAB merger is in its final stages after months of preparation. adds that the merger is expected to be announced in the second or third quarter of the fiscal year, depending on regulators' approval.

If true, Al-Arabiya states the merger will result in the formation of the largest banking entity in the Middle East.

ADCB Denies “Unsubstantiated News”

In light of the published news, ADCB denied any plans to merge with FAB, pressing their commitment to implement their 5-year strategy.

The Abu Dhabi-based bank released a separate statement to address what they referred to as “unsubstantiated news published by"

“In response to unsubstantiated and unfounded news published by “Al” on 8th March 2022, Abu Dhabi Commercial Bank categorically denies the false content of the article about a potential merger with First Abu Dhabi Bank (FAB).”

“ADCB is successfully implementing a five-year strategy and has been updating the market through regular disclosures, including the Bank’s website, annual report, and quarterly reports. In line with our commitment to best practice governance and transparency, ADCB publishes all material information related to the Bank through the Abu Dhabi Securities Exchange in a timely manner.”

While FAB, the bank founded as the result of the merger between National Bank of Abu Dhabi and First Gulf Bank in 2016, responded to claims as well, disowning any details the article stated about a potential merger with their rival bank, ADCB.

“FAB strongly denies the report issued by Al Arabiya and currently has not entered discussions with ADCB to pursue any merger activity”.

Where Do ADCB and FAB Stand in the UAE’s Banking Sector

According to Bloomberg, the two banks are two of the biggest banks in the UAE. A deal like the one proclaimed is about to be finalized would create “the largest Middle East lenders by assets."

As stated by Bloomberg, in their most recent data, FAB has shown a 20% increase in shares this year, reaching a current value of $67 billion. On the other hand, ADCB witnessed a 29% increase, boosting its market capitalization to $21 billion.

FAB assets are estimated to be worth $272 billion, while ADCB has assets of $120 billion.

About Abu Dhabi Commercial Bank

Abu Dhabi Commercial Bank (ADCB) is a UAE-based bank that was founded as a public shareholding company with limited liability in 1985.

The bank operates through a network of 54 branches and over 425 ATMs across the UAE, serving over 1 million clients and providing them with a diverse scope of services and products, covering consumer banking, wholesale banking, treasury & investments, and property management.

Following the ADCB and Union National Bank merger and the acquisition of Al Hilal Bank by the combined entity, ADCB was rendered as the third-largest bank in the UAE by assets.

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