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