Dubai Islamic Bank completes Noor Bank acquisition
Dubai Islamic Bank has secured approvals from regulators in the United Arab Emirates to complete its acquisition of Noor Bank through a share swap.
The biggest Islamic bank in the UAE said in a statement on Thursday (Jan 23) it had issued 651,159,198 new shares to take its issued share capital to 7,240,744,377 shares.
Noor Bank will now be completely integrated into DIB and the merged entity holds assets exceeding 275 billion dirhams ($74.88 billion), said the bank.
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