Abu Dhabi – Mubasher: First Abu Dhabi Bank has reduced up to 20 jobs in its global markets division following the merger of National Bank of Abu Dhabi (NBAD) and First Gulf Bank (FGB), sources told Reuters on Wednesday.

Completed on 1 April, the merger was expected to produce cost savings of AED 500 million.

The bank’s ordinary general meeting (OGM) is scheduled to meet on Monday, 24 April, to discuss changing the bank’s name to First Abu Dhabi Bank.

The new bank is now the “largest” bank in UAE and the MENA region with total assets in excess of AED 670 billion ($180 billion).