Debts can be easily funded says Emirates NBD
Dubai, February 24, 2009
Emirates NBD has $1.6 billion of medium-term debt maturing this year which can be funded with ease, its chief financial officer said in remarks published on Tuesday.
"The maturing debt is small and can be replaced easily with our current resources," Sanjay Uppal was quoted as saying by daily Emirates Business.
Uppal said the bank, the biggest in the Gulf region by assets, paid off in January $500 million of the total debt maturing this year.
He reiterated that the bank was "comfortable" with its level of exposure to the local real estate sector. - Reuters
More Finance & Capital Market Stories
- AAIB unit starts crisis assistance travel service
- Abu Dhabi may need to lower industry growth target
- Kuwait credit hits 5-year high; tops $1.3bn
- UAE stocks rally, Abu Dhabi tops 4,000 mark
- Abraaj completes 15 exits in 2013
- Barwa gets top HSE certifications
- Egypt's forex reserves dip to $17.8bn in Nov
- Experts put spotlight on Mena tax issues
- BMI, Muharraq SC launch co-branded credit card
- NBAD partners with top business school