Emirates NBD plans share capital hike ahead of possible acquisition | ZAWYA MENA Edition

Emirates NBD plans share capital hike ahead of possible acquisition | ZAWYA MENA Edition:

"Emirates NBD plans to raise its share capital by up to 7.35 billion dirhams ($2 billion) through the issuance of new shares, as Dubai's largest lender prepares to bid for Turkey's Denizbank. The bank said in January it had started initial strategic talks with Sberbank about a possible purchase of the Russian lender's stake in Turkey's Denizbank. The share hike, announced on Sunday, was expected to ensure the lender's common equity tier 1 ratio did not drop below the regulated 11 percent threshold with the acquisition, said Chiradeep Ghosh, banking analyst at SICO Bahrain."



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