Abu Dhabi Commercial Bank (ADCB) has agreed to sell the majority of its India banking portfolio to DCB Bank and will exit its operations in India subsequent to the transaction, subject to regulatory approvals.
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The banking portfolio that is being sold to DCB Bank comprises Dh355 million ($97 million) in assets and Dh601 million ($164 million) in liabilities, and the sale will be made at par, said the statement.