The rating agency has removed the bank's via-bility rating from rating watch negative and said it believes that there is high probability of support from the UAE authorities and Dubai to Emirates NBD.
Following the global financial crisis, liquidity support and term funding were provided by the UAE authorities to all banks in the system. In addition, the government of Dubai injected Dh4 billion of perpetual hybrid Tier 1 capital into Emirates NBD in June 2009 to provide further support to the bank's capital base.
No comments:
Post a Comment