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Wednesday, 26 July 2017

Emirates NBD has resilience to face challenge of losing market lead position, Moody's says  - The National

Emirates NBD has resilience to face challenge of losing market lead position, Moody's says  - The National:

"Emirates NBD, Dubai's biggest bank by assets, will be able to surmount the challenge of losing its market leader position coupled with a weakening economy and rising interest rates, Moody's Investor Service said.  "Emirates NBD's unique position as the Dubai government's bank of choice, its large low-cost deposit base and healthy loan book will support its profitability as it negotiates the challenges of a more competitive environment, a weaker economy, and rising interest rates," says Mik Kabeya, Analyst at Moody's.  The rating agency noted that the lender would continue to finance infrastructure projects ahead of Expo2020 and that competition with First Abu Dhabi Bank would be softened by the limited overlap between the two lenders. "



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