Emirates NBD ENBD.DU, the Gulf region's biggest lender, has exposure of up to $350 million to two Saudi conglomerates now restructuring their debt, Emirates NBD Chief Executive Rick Pudner said.
Pudner said the bank's balance sheet and results in the fourth quarter would not be affected by the exposure, which the bank has declined to detail up to now.
At least 13 United Arab Emirates (UAE) banks and seven foreign banks have exposure to Saudi family firms Saad Group [SAADG.UL] and Ahmad Hamad Algosaibi and Bros Co (AHAB), the UAE central bank said last week.
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