Abu Dhabi – Mubasher: The Abu Dhabi securities Exchange (ADX) listed Bank of Sharjah and Invest Bank are in talks over a potential merger, an informed source told Reuters on Thursday.

The potential deal will form a mega institution with total assets of AED 50.6 billion ($13.8 billion), Reuters reported.

JPMorgan Bank acts as an advisor for Bank of Sharjah in the deal.

Bank of Sharjah and Invest Bank did not respond to a the new agency's request for comment. JPMorgan declined to comment.

The merger of First Gulf Bank (FGB) and National Bank of Abu Dhabi (NBAD) this year has created the biggest bank in the UAE with approximately $175 billion of assets.