Abu Dhabi Commercial Bank, Union National Bank and Al-Hilal Bank, all controlled by Abu Dhabi government agencies, will merge. Though driven by Abu Dhabi-specific factors, it forms part of a wider trend in the GCC
Michael Tomalin Receives CMG in New Year's Honours List
Dr. Michael Tomalin OBE, the former Chief Executive of National Bank of Abu Dhabi, was awarded a CMG in the United Kingdom's 2014 New Year Honours list. The award cited Dr. Tomalin's services to UK/UAE business cooperation and to the British Community in Abu Dhabi.
CMG stands for "Companion of the Most Distinguished Order of Saint Michael and Saint George". The award is used to honour people for service to the British Commonwealth or to foreign countries.
Michael Tomalin became Chief Executive of National Bank of Abu Dhabi in 1999 and retired in 2013. In October 2012, Dr. Tomalin received the Arab Bankers Association's first award for Distinguished Service to Arab Banking.
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The directors of National Bank of Abu Dhabi and First Gulf Bank have approved plans to merge their two banks. The new bank, which will be called National Bank of Abu Dhabi, will be the largest in the Middle East. Find out more about the transaction and the two banks in the accompanying article.
Four GCC banks have been included in Global Finance Magazine's ranking of the World's 50 Safest Banks: National Bank of Abu Dhabi, National Bank of Kuwait, Qatar National Bank and Samba Financial Group