Abu Dhabi Commercial Bank is to sell the majority of its banking portfolio in India to DCB Bank as part of its strategy to focus on its home market in the UAE.
The banking portfolio being sold to DCB Bank, a private commercial bank in India, comprises Dh355m in assets and Dh601m in liabilities, ADCB said.
It added that the decision is driven by the “group’s strategy to focus on its home market, the United Arab Emirates,” and the “at par” sale of the India banking portfolio would have no impact on the bank’s profitability.
ADCB entered into a three-way merger with Union National Bank and Al Hilal Bank earlier in 2019.
DCB Bank is a commercial bank headquartered in Maharashtra, India.
