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Abu Dhabi lender ADCB to exit operations in Qatar, Kuwait

Abu Dhabi lender ADCB to exit operations in Qatar, Kuwait

The bank completed a three-way merger in May

Abu Dhabi Commercial Bank, which completed a three-way merger in May, plans to exit its operations in Qatar and Kuwait to focus on its home market.

The lender initiated the process of closing operations in both the countries and have informed the authorities, according to a statement. The move comes after the bank sold the majority of its banking portfolio in India to DCB Bank Ltd.

Abu Dhabi Commercial Bank combined with local rivals Union National Bank and Al Hilal Bank to create the Gulf region’s fifth-biggest lender with $110bn in assets.

Read: Abu Dhabi banks ADCB, UNB and Al Hilal merge to create third largest UAE lender

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