Adnan Yousif Predicts Banks May Recover 60% on AlGosaibi and Saad Loans

Zawya Dow Jones interview with Adnan Yousif Monday on the sidelines of an Abu Dhabi conference.

1. Anticipates 60% recovery as both groups have assets.
2. Arab banks hold the largest share in the loans estimated as we've heard before at about US$20 billion.
3. Arab banks have "turned the page" on the two Groups through taking sufficient provisions.

He also commented on Dubai World situation saying that the lenders were primarily Emirati and international banks.  Not much exposure among other Arab banks.

With respect to loans to the Government of Dubai, he said the problems were not of inability to pay but rather temporary cashflow problems which will be overcome.

For those who don't know, Adnan is Chairman of the Board of the Union of Arab Banks as well as President/CEO of the AlBaraka Group.  He and his brothers (who use the surname Abdul Malik) are among the region's distinguished bankers.