Abu Dhabi Commercial Bank (ADCB) has received Dh6.6 billion in terms of deposits from the UAE Federal Government, which would be converted into Tier II capital after getting approval from shareholders at the bank's annual general meeting due March 31, ADCB's chief executive officer said Wednesday.
Ala'a Eraiqat said ADCB received the sum in two tranches from the government - each tranche was worth Dh3.3 billion - and conversion of the total sum into Tier II capital would boost the bank's liquidity and its capital adequacy ratio.
"In 2009, we are well positioned in terms of liquidity and capital adequacy," said Eraiqat.
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