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CBD to buy $817m of UAE company loans from RBS

DUBAI, April 1, 2015

Commercial Bank of Dubai (CBD) has agreed to acquire around Dh3 billion ($816.8 million) of corporate loans from Royal Bank of Scotland, the Dubai-based lender said on Wednesday.

The portfolio of loans was mostly to large United Arab Emirates-based companies, CBD said in a statement.

The transaction was expected to be complete during April 2015, with the bank using its own funds for the purchase, CBD added. – Reuters

Tags: RBS | company loans | Commercial Bank of Dubai |

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