Bahrain's Gulf Finance House (GFH) said on Wednesday it had taken a provision of $300 million over its exposure to a Dubai development project.
"Gulf Finance House ... will take a $ 300 million (non-cash) charge against its proprietary Dubailand position and correspondingly reduce the liabilities on its balance sheet by $290 million," the company said in a statement.
"GFH has no remaining material exposure to Dubai."
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