The UAE will have another banking behemoth now with the merger of Abu Dhabi Commercial Bank, Union National Bank and Al Hilal Bank. The 3-way merger has created a bank with Dh423 billion in assets. The new round of consolidation, after the merger of the National Bank of Abu Dhabi and First Gulf Bank to create the Dh671 billion First Abu Dhabi Bank, will see another financial institution being created with increased pricing power ensuing reduced pressure on funding cost. The merged entity, called ADCB Group, will be serving over 1 million customers and will be one of the largest retail lenders, accounting for a 21% market share of retail loans as at 31 December 2018. Shares in ADCB Group, which becomes the second biggest financial institution in Abu Dhabi, began trading. The ADCB brand will gradually replace the UNB brand, and customers will be given access to an enhanced range of products and services.