Dubai Islamic Bank considering Noor Bank acquisition

By Sheena Amos

DUBAI 24 April 2019: Dubai Islamic Bank (DIB), on Tuesday said its board is considering the potential acquisition of Noor Bank.

“The board allowed the bank to explore possible acquisition of Noor Bank and revert to the board with the findings in three weeks,” DIB said in a statement to the Dubai Financial Market.

The board also allowed the bank to appoint financial advisors to conduct due diligence of Noor Bank and to provide opinion on the valuation as well as legal advisors to handle all legal matters, said Wam.

The statement confirms that the DIB is seriously pursuing a potential acquisition of Noor Bank.

Dubai Gazette