DUBAI Dec 15 Banks in United Arab Emirates are
open to mergers in the near term and deals involving Dubai
lenders cannot be ruled out, the head of the national banking
industry association, Abdulaziz al-Ghurair, told Dubai's Bayan
His comments come after National Bank of Abu Dhabi (NBAD)
and First Gulf Bank (FGB) agreed to merge to
create one of the largest banks in the Middle East and Africa
with assets of about $175 billion.
Ghurair, who is also chief executive of Mashreq Bank
, said the banking sector was open to strategic
mergers, such as the NBAD and FGB deal, and did not rule out a
new banking merger in Dubai, the newspaper reported.
(Reporting by Hadeel Al Sayegh; editing by David Clarke)