First Abu Dhabi Bank confirms job cuts: Reuters

Published April 16th, 2017 - 02:09 GMT
According to sources, the newly-merged bank is interviewing people for various roles in order to eliminate duplication. Those who do not qualify will be asked to leave. (Shutterstock)
According to sources, the newly-merged bank is interviewing people for various roles in order to eliminate duplication. Those who do not qualify will be asked to leave. (Shutterstock)

Reuters has reported that Abu Dhabi's newly-merged bank First Abu Dhabi Bank has made up to 20 job cuts in its global markets division.

Read more: FGB And NBAD Merge Into The UAE's Largest Bank

The announcement was made less than a month after the merger of National Bank of Abu Dhabi (NBAD) and First Gulf Bank (FGB) was completed on April 1, 2017.

The new bank is considered the UAE’s largest bank and one of the largest in the Middle East region with total assets of more than AED 670 billion ($180 billion). 

Read more: National Bank Of Abu Dhabi Lists Region's First-ever Green Bond On London Stock Exchange 

According to Reuters, the bank is interviewing people for various roles in order to eliminate any duplication that may have resulted from the merger. Those who do not qualify will be asked to leave.  

The news, first reported by Reuters, was recently confirmed by banking sources. Reuters said that the bank declined to comment.


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