A view of a branch of Abu Dhabi Commercial Bank along Khalid Bin Al-Waleed Road in Dubai January 4, 2012. REUTERS/Nikhil Monteiro
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Abu Dhabi's merger of three state-linked banks is set to create two new lenders, according to people with knowledge of the matter.The Islamic divisions of ADCB and UNB would merge and then take over privately-held Al-Hilal Bank, they said.UNB rose 2.9 percent as of 11:57 a.m. in Abu Dhabi, with trading volumes near three times higher than its 30-day average for the period.Mubadala Investment Co., which holds a 62.5 percent stake in ADCB and 50 percent of UNB through Abu Dhabi Investment Council, ADCB and UNB declined to comment.
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