Abu Dhabi Plans Three-Way Bank Merger

The video discusses the overbanked market in the GCC, emphasizing the need for banks to expand and consolidate to remain competitive globally. It highlights the challenges of merging banks, particularly aligning different cultures, but notes that common ownership by Mubadala may ease the process. The UAE's economic backdrop is tough, with high competition among banks and fluctuating oil prices. The consolidation is seen as a necessary step to cut costs and improve competitiveness, potentially leading to more mergers in the region.

What role does the sovereign wealth fund Mubadala play in the banking sector?

What impact do low oil prices have on the banking industry in the UAE?