November 6, 2018 / 7:40 AM / a year ago

Abu Dhabi banks' merger at early stage, UAE cenbank governor says

Vehicles stop at a red light in front of the main branch of UAE Central Bank in Abu Dhabi, January 29, 2013. REUTERS/Ben Job

ABU DHABI (Reuters) - The merger of three banks in Abu Dhabi is at an early stage, the United Arab Emirates central bank governor said on Tuesday.

Abu Dhabi Commercial Bank, Union National Bank and Al Hilal Bank are in talks for a deal that could form a lender with $113 billion in assets.

Mubarak Rashed al-Mansoori told reporters on the sidelines of a conference in Abu Dhabi that he expected more consolidation in the future.

Reporting by Saeed Azhar and Stanley Carvalho, writing by Davide Barbuscia

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