RSS feedEmirates NBD
’Dubai banks downgraded
Standard & Poor’s downgraded a clutch of major Dubai banks on Thursday citing their exposure to the troubled, state-owned Dubai World, and warned further demotions could come soon. Fitch Ratings also put four banks on review for a downgrade,
The shifting sands of UAE bank capital
Here’s some useful data from ratings agency Fitch – a breakdown of how the capital of banks in the United Arab Emirates is likely to be impacted by the Dubai World debt restructuring.
It’s basically an updated version of Fitch’s capital sensitivity test for UAE banks,
Dubai’s plans to create a regional banking giant
Amid Dubai’s international shopping spree (EADS, the QE2, stakes in HSBC and Deutsche Bank, among other goodies), its latest move is to create one of the region’s biggest banks. Dubai’s Emirates Bank International and the National Bank of Dubai agreed on Thursday to merge as the government moves to create a regional champion with a combined market capitalisation of $11bn,