First Gulf Bank (FGB), the United Arab Emirates' third largest bank, may look to buy Barclays Plc's retail banking operations in the United Arab Emirates, FGB's chief executive said on Monday.
The British lender has decided to sell the retail banking business following a strategic review of operations in the Gulf Arab state, it said earlier this month.
Local lenders in the UAE are expected to bid for the business, which includes credit card, mortgage, personal lending and deposit-taking operations.
"The bank is open for such opportunities. We may be doing due diligence on Barclays (UAE business)," FGB Chief Executive Andre Sayegh told reporters in Dubai.
"We're looking for synergies so if it makes sense, we'll go for it," he said.
First Gulf Bank and Abu Dhabi Islamic Bank beat analysts’ forecasts for Q2Abu Dhabi lenders posted a 15 percent to 16 percent increase in Q2 net profit, beating analysts’ forecasts. FGB, the second largest lender by ... Banking & Finance
Abu Dhabi Islamic Bank plans North Africa expansionAbu Dhabi Islamic Bank plans to branch out in North Africa as the UAE-based lender seeks to reach a larger population. The bank applied for licenses ... Banking & Finance
Islamic bank BLME to seek Dubai’s first listing in four yearsBank of London and The Middle East (BLME), Britain's largest stand-alone Islamic bank, plans to seek a listing on the Nasdaq Dubai bourse next month ... Banking & Finance