UAE banks in $11 bln liquidity shortfall-StanChart

Banks in the United Arab Emirates are facing a liquidity shortfall of up to $11 billion and are suffering from bad debt due to unsecured lending, a Standard Chartered (STAN.L) executive said on Tuesday.

Shayne Nelson, the bank's chief executive in the Middle East, told a conference the country's lenders were coping with a liquidity shortfall of 30-40 billion dirhams ($8.2-$10.9 billion).

"Liquidity is still short. It's 30-40 billion dirhams short. (This is) the difference between advances and deposits. Straight math," Nelson said, adding access to capital was improving for the larger banks.