Banks in the Arab Gulf region are leading a record wave of mergers and acquisitions, according to Bloomberg. Mergers and acquisitions have accelerated since the historic merger deal between the two largest banks in Abu Dhabi in 2017.
The past decade has been relatively calm for such deals, and the first banking merger in the UAE in 2007, between the Emirates International and Dubai National.
The profits of the merged entity, Emirates NBD, have increased by more than 3 times what they were at that time, and the bank’s net income has increased at a CAGR of 11% from 2008 to 2018, despite some turbulent years after the global financial crisis.
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