(Bloomberg) -- Abu Dhabi Commercial Bank PJSC, which completed a three-way merger in May, plans to exit its operations in Qatar and Kuwait to focus on its home market.
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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.
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Abu Dhabi Commercial Bank combined with local rivals Union National Bank PJSC and Al Hilal Bank PJSC to create the Gulf region’s fifth-biggest lender with $110 billion in assets.
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