Abu Dhabi – Mubasher: Abu Dhabi-listed Abu Dhabi Commercial Bank (ADCB), Abu Dhabi Islamic Bank (ADIB) and Union National Bank (UNB) denied the merger news published by Bloomberg, according to bourse statements.

ADCB said that its executive management knows nothing about this issue, while UNB noted it did not receive any information concerning merger from an official authority. ADIB also announced that it did not discuss any merger.

Abu Dhabi is considering more mergers after combining National Bank of Abu Dhabi (NBAD) and First Gulf Bank (FGB), Bloomberg reported last Thursday.

The emirate has a plan to merge ADCB and UNB and also combine ADIB with Al-Hilal Bank, the news agency added,

UNB’s stocks fell 5.61% to AED 4.21, while ADCB and ADIB declined 2.65% and 0.83% to AED 5.88 and AED 3.57 respectively.