Emirates NBD Bank to sell controlling stake in Dubai Bank to Eradah Capital

The transfer, expected to complete in 2021, is subject to regulatory approval by the Central Bank of the UAE

  
FILE PHOTO: Emirates NBD bank is seen in Mall of Emirates in Dubai, United Arab Emirates, December 30, 2018. Image for illustrative purposes.

FILE PHOTO: Emirates NBD bank is seen in Mall of Emirates in Dubai, United Arab Emirates, December 30, 2018. Image for illustrative purposes.

REUTERS/ Hamad I Mohammed

Emirates NBD Bank has entered into an agreement to sell a controlling interest in Dubai Bank to Eradah Capital, the lender confirmed in a statement to the Dubai Financial Market on Wednesday. 

The transfer, expected to complete in 2021, is subject to regulatory approval by the Central Bank of the UAE, it added.

Eradah Capital, based in Abu Dhabi and operates in the investment services sector, according to its LinkedIn page.

(Writing by Brinda Darasha; editing by Daniel Luiz)

brinda.darasha@refinitiv.com

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