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Abu Dhabi is exploring a potential merger between three of its banks to create a lender with about $110 billion of assets as the oil-rich emirate moves ahead with the consolidation of state-controlled companies.ADCB has a market value of about $10 billion, while UNB's is $2.9 billion.UNB shares rose 4.3 percent, while ADCB advanced 0.6 percent Monday. The Abu Dhabi Securities Market Banks Index, which tracks 13 banking and financial services companies, has risen 26 percent this year, compared with a 12 percent gain for Abu Dhabi's general index.Mubadala, which holds a 62.5 percent stake in ADCB and 50 percent of UNB through ADIC, declined to comment.
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