National Bank of Abu Dhabi (NBAD.AD: Quote) has a $377 million exposure to Egypt and $51 million to Libya, but the lender's CEO said this was not cause for concern.
The exposure to Egypt is mainly to international companies and some UAE companies while the Libyan exposure is to banks there, Michael Tomalin said on Sunday.
"The exposures are well covered and our Egypt operations are self-funding. Whatever happens to Egypt, we are confident things will work out," Tomalin said on the sidelines of the bank's annual general meeting.
"We have no problem exposure to Egypt," he added.
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