Union National Bank General Assembly approved the merger with Abu Dhabi Current Bank.
According to the Union National Bank’s statement on the Abu Dhabi Securities Exchange, the General Assembly approved the merger agreement concluded between it and Abu Dhabi Commercial Bank in accordance with the provisions of Article 285 (1) of the Companies Law .
The assembly also approved the decisions of the shareholders of Abu Dhabi Commercial Bank during the general assembly meeting for the merger and increase of the bank’s capital.
It is expected that the expected merger will result in a huge financial entity, whose total assets are estimated at 423 billion dirhams, and the value of deposits will reach approximately 285 billion dirhams, while loans and advances will reach For customers, 265 billion dirhams.
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