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.
FBR to launch faceless tax audit system
ISLAMABAD: The Federal Board of Revenue (FBR) is set to introduce a faceless audit and assessment system across all four...
