Arab Today, arab today emirates nbd takes over troubled dubai bank
Last Updated : GMT 16:24:37
Arab Today, arab today
Arab Today, arab today

Emirates NBD takes over troubled Dubai Bank

Arab Today, arab today

Arab Today, arab today Emirates NBD takes over troubled Dubai Bank

Dubai - AFP

Emirates NBD Bank, the largest lender in the United Arab Emirates, has taken over the troubled Islamic lender Dubai Bank on orders of the ruler of Dubai, a government statement said on Tuesday. \"Sheikh Mohammad bin Rashed al-Maktoum, Vice President and Prime Minister of the UAE, in his capacity as the ruler of Dubai, has given orders that Emirates NBD take over Dubai Bank,\" the statement said. It said the acquisition is in \"line with Dubai government efforts to enhance the banking sector in the Emirate (of Dubai),\" which was hit hard by the global financial crisis. Dubai Bank was acquired in May by the debt-laden government of Dubai, which pledged to inject capital into the troubled lender. At the time, the government said the takeover would ensure that Dubai Bank\'s business continues uninterrupted. Dubai Bank posted a net loss of 290.6 million dirhams ($79.2 million) in 2009, the last financial results to be made public. Before the takeover, Dubai Bank was jointly owned by Dubai Holding, with a 70 percent stake, and Emaar, Dubai\'s main property corporation, with 30 percent.

arabstoday
arabstoday

Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

Arab Today, arab today emirates nbd takes over troubled dubai bank Arab Today, arab today emirates nbd takes over troubled dubai bank

 



Arab Today, arab today

Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

Arab Today, arab today emirates nbd takes over troubled dubai bank Arab Today, arab today emirates nbd takes over troubled dubai bank

 



Arab Today, arab today Etiquette expert calls for short visits

GMT 16:21 2017 Monday ,26 June

Etiquette expert calls for short visits
Arab Today, arab today France defies terrorism through tourism

GMT 15:18 2017 Saturday ,20 May

France defies terrorism through tourism
Arab Today, arab today Mai Al-Jeddawi presents décor ideas for Ramadan
View News in Arabic - Business: مصارف
Arab Today, arab today
Arab Today, arab today

GMT 09:49 2017 Tuesday ,02 May

Girl barred from Malaysia chess competition

GMT 08:48 2017 Saturday ,06 May

Climate science: Bad news gets worse

GMT 16:25 2017 Sunday ,04 June

“Suhoor” is basic meal for fasting

GMT 06:31 2015 Thursday ,04 June

Pluto's unruly moons

GMT 11:09 2017 Sunday ,25 June

HUAWEI P10 the ‘guru’ of portrait shots
Arab Today, arab today
Arab Today, arab today
 
 Arab Today Facebook,arab today facebook  Arab Today Twitter,arab today twitter Arab Today Rss,arab today rss  Arab Today Youtube,arab today youtube  Arab Today Youtube,arab today youtube
arabstoday arabstoday arabstoday arabstoday
arabstoday arabstoday arabstoday
arabstoday
بناية النخيل - رأس النبع _ خلف السفارة الفرنسية _بيروت - لبنان
arabstoday, Arabstoday, Arabstoday