Al Hilal Bank was acquired by ADCB Group in January 2019/Bloomberg
by Kudakwashe MuzoriwaAl Hilal Bank, a subsidiary of Abu Dhabi Commercial Bank (ADCB), has agreed to sell Al Hilal Takaful to Siraj Holding and the transaction is expected to be closed in Q1 2020 subject to regulatory approval.
ADCB stated that the decision is driven by Al Hilal Bank’s decision to focus on delivering high-quality retail banking services, primarily through digital channels and to divest non-core businesses.
Al Hilal Bank was acquired by ADCB Group in January 2019 for around AED 1 billion following the tie-up between ADCB and Union National Bank.
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