National Bank of Abu Dhabi PJSC said it’s in talks with the United Arab Emirates central bank to exclude its portfolio of “high-quality” bonds from a cap on lending to governments and state-linked companies.
The U.A.E. second-biggest bank by assets isn’t in compliance with regulations announced in April and “we do have some technical issues that we want to thrash out,” Chief Executive Officer Michael Tomalin said in a conference call with analysts today.
The central bank said April 4 banks cannot lend more than 100 percent of their capital to local governments and the same to state-related entities. Institutions had until Sept. 30 to comply. There was no limit under previous rules.
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