DUBAI: Bain & Co has been appointed to advise Abu Dhabi’s two biggest lenders as they merge into a US$175 billion regional powerhouse. The US consulting company was picked to help with the integration of National Bank of Abu Dhabi (NBAD) PJSC and First Gulf Bank PJSC, an NBAD spokesman confirmed after two people with knowledge of the matter told Bloomberg of the firm’s role. The people asked not to be identified because the information is private. Credit Suisse Group AG had earlier advised NBAD and UBS Group AG was working with First Gulf Bank on the deal’s financial terms. National Bank of Abu Dhabi and First Gulf Bank said in July that they would merge to create a regional banking heavyweight to help boost lending and secure funding as the region grapples with a more than 50 percent drop in oil prices over the past two years.
New transit framework with Iran to position Pakistan as regional trade hub: ICCI
ISLAMABAD: Islamabad Chamber of Commerce and Industry (ICCI), has warmly welcomed the federal government’s recent decision to facilitate the transit...
