Ex-Emirates NBD CFO says the NBAD-FGB merger should target cost savings of 15-28%
Ex-Emirates NBD CFO, Sanjay Uppal, who is now CEO of StraitsBridge Advisors in Singapore, said that the NBAD-FGB merger could lead to cost synergies of 15-28% and revenue synergies of somewhere between 6-12%. He added the two banks should be targeting synergies somewhere close to these benchmarks. (Bloomberg) Natl. Bank of AD (AD): AED9.60 as of 20 June, Rating: Neutral, FV: AED9.00/share, MCap: USD13,628mn, NBAD UH / NBAD.AD
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