The largest Emirati bank said it was no longer considering making an offer

MADRID, January 5 (EUROPA PRESS) –

Shares of British bank Standard Chartered, chaired by Spain’s José Viñals, have risen by more than 20 percent this Thursday due to possible interest in the First Abu Dhabi Bank (FAB) entity, which has confirmed it is, although at the time of evaluating the offer, it is not currently considering it, after that institutional shares moderated their escalation to 7 percent.

“The First Abu Dhabi Bank confirmed that previously they had evaluated potential offers for Standard Chartered at an early stage, but as of the date of this announcement, are no longer doing so,” the Emirati bank has announced in response to recent reports. speculation from the press.

According to knowledgeable sources consulted by Bloomberg, the Middle East entity has been considering a full acquisition of Standard Chartered, although it has yet to make a formal approach, as well as considering other deal structures, such as the acquisition of a part of the company with headquarters. in England.

First Abu Dhabi Bank was established in 2016 through the merger of the National Bank of Abu Dhabi and First Gulf Bank and today almost half of the entity is owned by sovereign wealth fund Abu Dhabi Mubadala Investment and a member of the Al Nahyan family, the rulers of the emirate and the world’s richest by wealth 300,000 million dollars (283,128 million euros).

However, because Standard Chartered is classified as a systemically important global bank, FAB had to go through a very rigorous approval process by various regulators to reach an agreement.