NO. 38


Financial and Banking News

Regional Banking

ADIA Acquires BCCI's Share of Union National Bank

The Abu Dhabi Investment Authority (ADIA) has acquired BCCI's 40% share ofUnion National Bank (UNB), formerly the Bank of Credit and Commerce Emirates,following approval of the takeover on 12 June by a British court which is rulingon the liquidation of BCCI and the distribution of whatever assets can besalvaged. The acquisition increases ADIA's share of UNB to 50.04%. It will...