First Abu Dhabi Bank
|Traded as||ADX: NBAD|
|Headquarters||Abu Dhabi, United Arab Emirates|
|Abdulhamid Saeed, Group (CEO)|
First Gulf Bank and National Bank of Abu Dhabi announced on July 3, 2016, that their boards of directors had voted unanimously to recommend to shareholders a merger of the two banks. The transaction was approved by the respective shareholders of the two banks on December 7, 2016.
The transaction was executed through a share swap, with FGB shareholders receiving 1.254 NBAD shares for each FGB share they held.
Board of directorsEdit
The combined bank’s board includes four nominated directors of the former FGB and four nominated directors of the former NBAD.