Monday 3 June 2013

Abu Dhabi Commercial Bank repays government funds in full - Alarabiya.net English | Front Page

"Abu Dhabi Commercial Bank (ADCB) has repaid the remaining 2.6 billion dirhams ($713.3 million) of a Dh6.6bn loan facility it received from the government in the wake of the global financial crisis, the bank said in a statement on Sunday.

ADCB, the United Arab Emirates’ third-largest lender by market value, had repaid Dh4bn of the loan in March 2013.

The United Arab Emirates Ministry of Finance injected Dh70bn into the banks to shore up balance sheets after the collapse of Lehman Brothers in September 2008 triggered a crisis in the global financial system."

'via Blog this'

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