On 29 January 2019, the boards of directors of Abu Dhabi Commercial Bank PJSC (ADCB) and Union National Bank PJSC (UNB) voted unanimously to recommend to shareholders a merger of the two banks and for the combined entity to acquire Al Hilal Bank PJSC. The new banking group will carry the ADCB identity, with Al Hilal Bank retaining its existing name and brand and operating as a separate Islamic banking entity within the group. Eissa Mohamed Al Suwaidi is the Chairman designate of the new banking group, and His Excellency Mohammed Bin Dhaen Al Hamli is the Vice Chairman designate.

Ala'a Eraiqat is the Group Chief Executive Officer designate of the new banking group. The new board and management of the combined bank will assume their new roles when the transaction becomes effective.