Restructuring at government-owned companies is likely to lead to another bout of financial pain for UAE banks, amid scant signs of a recovery in the property market, analysts warn.
Nakheel and Dubai Holding are likely to be the next companies in line for financial shake-ups that could hurt lenders in the region, analysts say, while other corporate restructuring proposals could be in the pipeline.
“There could be surprises to come,” said Raj Madha, a senior banking analyst at Rasmala Investment Bank in Dubai."
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