Reuters quotes an unnamed senior executive at ADCB: "In the UAE, a senior executive at Abu Dhabi Commercial Bank told Reuters the bank had about $2.18bn to $2.45bn of exposure to Dubai World and related entities".
Strangely, this item was tucked away in one which described the US$77 million in exposure by Omani banks.
Strangely, this item was tucked away in one which described the US$77 million in exposure by Omani banks.
Ouch! Painful but not fatal.
At 30 September 2009 ADCB had some AED20.1 billion (US$5.5 billion) in capital. It is also 65% owned by the Emirate of Abu Dhabi (which in case you don't know is the one with the money). Message: Abu Dhabi won't let ADCB fail.
Nothing on the ADX this morning from ADCB. It would seem that having made this disclosure to the news media, ADCB would be following up with a public announcement. Perhaps, this will occur before the ADX opens tomorrow?
Nothing on the ADX this morning from ADCB. It would seem that having made this disclosure to the news media, ADCB would be following up with a public announcement. Perhaps, this will occur before the ADX opens tomorrow?
Posts
No comments:
Post a Comment