EmiratesNBD, the largest bank in the UAE in terms of assets as well as profit, has set a target time of three to six months to fix the daunting issue of high lending-deposit ratio, according to the bank's chief executive officer.
The ratio which was more than 125 per cent as of December end, 2008, is likely to rise as there is substantial amount of medium-term notes (MTNs) maturing during this year. Out of the total Dh30.1 billion worth of notes, Dh1.836bn has been settled during January and another Dh5.837bn needs to be settled during this year itself.
Talking to Emirates Business, Rick Pudner, CEO of the bank, said the bank has been looking at various strategies to fix this issue. "Not only our bank, all banks must be working on this and I am sure within the course of the next few months, we will be able to bring down this to close to 100 per cent which is the prescribed level by the Central Bank of UAE," he said.
No comments:
Post a Comment