First Abu Dhabi Bank (FAB) said on Monday it mutually agreed with Lebanon's Bank Audi to stop the potential acquisition of its Egypt business, according to a statement. FAB, which is Abu Dhabi's biggest lender, said the decision was made as a result of “the unprecedented circumstances and the uncertain outlook relating to the COVID-19 pandemic,” the statement said late on Monday. The bank also said the decision was in the best interests of its shareholders, customers and employees.
