Emirates NBD, Dubai's largest bank, will see its quarterly results hit again by its exposure to state-linked companies, in the latest sign of the toll taken by its status of the emirate's lender of last resort.
The bank, formed at the behest of Dubai's ruler in 2007 through the merger of Emirates Bank and National Bank of Dubai, reports fourth-quarter results on Wednesday.
Its exposure to government-related entities (GREs) -- which accounted for 24 percent of total assets as of September 30, up from 17 percent at the end of 2009, according to Moody's -- has raised concerns in the market.
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