Abu Dhabi Commercial Bank completed its merger with Union National Bank in a $4bn deal.

Abu Dhabi Commercial Bank, a bank in the United Arab Emirates, completed its merger with Union National Bank, a bank based in Abu Dhabi, in a $4bn deal. “This is a very exciting transaction that will create a larger, preeminent and resilient banking group. It is a landmark deal for the UAE that will contribute significantly to our national ambitions. A robust and innovative financial sector is crucial to the long-term prosperity of the UAE, as the country forges its transition to a diversified economy, connected to global markets by business and personal networks, trade and investments,” Al Suwaidi, Chairman designate of the new banking group.