Invest Bank P.S.C. (ADX:INVESTB) and United Arab Bank P.J.S.C. (ADX:UAB) have denied media reports suggesting that they are conducting talks with Bank of Sharjah P.J.S.C. (ADX:BOS) over a three-way merger. In a statement filed to the Adu Dhabi Securities Exchange, however United Arab Bank said it denies the news and confirms its invalidity. In a similar bourse statement, Invest Bank said it like to clarify to the public and the markets that those media reports are based on rumours and speculation.

Bank of Sharjah, for its part, said that it does not comment on rumours.