Arab Today, arab today emirates nbd gets bigger as it takes over dubai bank
Last Updated : GMT 22:04:34
Arab Today, arab today
Arab Today, arab today

Emirates NBD gets bigger as it takes over Dubai Bank

Arab Today, arab today

Arab Today, arab today Emirates NBD gets bigger as it takes over Dubai Bank

Dubai - Arabstoday

Emirates NBD, the largest Gulf bank by assets, yesterday took over Dubai Bank, an Islamic bank fully owned by the Government of Dubai. The acquisition was done on the orders of His Highness Shaikh Mohammad Bin Rashid Al Maktoum, Vice-President and Prime Minister of the UAE, in his capacity as Ruler of Dubai. \"This [the acquisition] comes in line with the Dubai Government\'s efforts to enhance the banking sector in the emirate,\" according to a press statement from the Dubai Government Media Office. \"The acquisition is a practical translation of Dubai Government\'s commitment to implement a comprehensive approach that contributes to strengthening the domestic banking sector and enhancing the UAE\'s leading financial position in the Gulf and Middle East,\" Shaikh Ahmad Bin Saeed Al Maktoum, Chairman of Emirates NBD, said in a statement. Addressing the media through a conference call yesterday, Emirates NBD\'s and Dubai Bank\'s managements said the deal is positive for both banks. Following the acquisition, Dubai Bank will become a fully-owned Islamic banking subsidiary of Emirates NBD. In a knee-jerk reaction to the news, Emirate NBD shares plunged 1.6 per cent yesterday. Emirates NBD, which already has Emirates Islamic Bank, another Islamic bank within the group, has no immediate plans to merge the two entities. \"Dubai Bank will remain another Islamic banking brand within the group along side Emirates Islamic Bank. Once the transaction is complete we will explore the synergies,\" said Rick Pudner, Chief Executive of Emirates NBD. The transaction will not have any adverse impact on the balance sheet of Emirates NBD, Pudner said.  

Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

Arab Today, arab today emirates nbd gets bigger as it takes over dubai bank Arab Today, arab today emirates nbd gets bigger as it takes over dubai bank

 



Arab Today, arab today
Arab Today, arab today Heart of Turkish Riviera is Alluring Seaside Escape

GMT 11:11 2017 Tuesday ,28 March

Heart of Turkish Riviera is Alluring Seaside Escape
Arab Today, arab today 5 Crafty Must-Have Limited-Budget Ideas

GMT 17:03 2017 Saturday ,25 March

5 Crafty Must-Have Limited-Budget Ideas
Arab Today, arab today Hamas leader accuses Israel

GMT 11:43 2017 Tuesday ,28 March

Hamas leader accuses Israel
Arab Today, arab today Media host gives priority to problems of people

GMT 07:00 2017 Tuesday ,28 March

Media host gives priority to problems of people
View News in Arabic - Business: مصارف
Arab Today, arab today
Arab Today, arab today
Arab Today, arab today Disaster costs nearly double to $175bn

GMT 10:42 2017 Tuesday ,28 March

Disaster costs nearly double to $175bn
Arab Today, arab today Campaign fights sexual harassment in Egypt

GMT 11:14 2017 Tuesday ,28 March

Campaign fights sexual harassment in Egypt
Arab Today, arab today Trump poised to roll back climate protections

GMT 09:28 2017 Tuesday ,28 March

Trump poised to roll back climate protections
Arab Today, arab today Prepares to give stargazers an eyeful

GMT 13:38 2017 Monday ,06 March

Prepares to give stargazers an eyeful
Arab Today, arab today Uber grounds self-driving cars

GMT 09:11 2017 Monday ,27 March

Uber grounds self-driving cars
Arab Today, arab today Audi RS 5 Coupe acquires new design

GMT 13:22 2017 Thursday ,23 March

Audi RS 5 Coupe acquires new design
Arab Today, arab today Trump to roll back Obama clean power plan

GMT 11:10 2017 Monday ,27 March

Trump to roll back Obama clean power plan

GMT 09:58 2017 Saturday ,25 March

Nermein Al Fekki films “Foxes in the Valley”

GMT 18:57 2017 Tuesday ,21 March

Accessories designer reveals her new collection

GMT 04:51 2017 Friday ,24 March

Salvage of South Korea's Sewol ferry

GMT 13:26 2017 Friday ,24 February

Expresses Algerian history by woody figures

GMT 09:02 2017 Thursday ,23 March

Laptop ban sparks ire

GMT 06:31 2015 Thursday ,04 June

Pluto's unruly moons

GMT 13:21 2017 Tuesday ,28 March

Samsung plans to sell refurbished Galaxy Note 7s

GMT 19:27 2017 Saturday ,11 March

Boualsof launches "Priestess Kahina" collection
Arab Today, arab today
Arab Today, arab today
 
 Arab Today Facebook,arab today facebook  Arab Today Twitter,arab today twitter Arab Today Rss,arab today rss  Arab Today Youtube,arab today youtube  Arab Today Youtube,arab today youtube
arabstoday arabstoday arabstoday arabstoday
arabstoday arabstoday arabstoday
arabstoday
بناية النخيل - رأس النبع _ خلف السفارة الفرنسية _بيروت - لبنان
arabstoday, Arabstoday, Arabstoday