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ADCB, ADIB vie for Barclays UAE retail operations

: Thursday, March 20 - 2014 @ 11:47

Abu Dhabi Commercial Bank (ADCB) and Abu Dhabi Islamic Bank (ADIB) are vying to acquire most of Barclays’ retail banking operations in the UAE, with a final decision expected next month following a highly competitive bidding process, Reuters has reported, citing banking sources. The lenders are now the frontrunners to acquire the business, the sources said. “Barclays is still in the process of assessing each of the bids. Our focus is to ensure we do what’s best for our customers and employees,” a Barclays spokesman said, without elaborating.

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Thursday, March 20- 2014 @ 11:47 UAE local time (GMT+4) Replication or redistribution in whole or in part is expressly prohibited without the prior written consent of Mediaquest FZ LLC.

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