UAE's ADCB to sell majority of India banking portfolio to DCB Bank | ZAWYA MENA Edition:
Abu Dhabi Commercial Bank (ADCB) will sell the majority of its banking portfolio in India to DCB Bank, after which it will exit the country.
ADCB said that the decision is driven by the “Group’s strategy to focus on its home market, the United Arab Emirates,” adding that the sale of the India banking portfolio will have no impact on the bank’s profitability.
The banking portfolio sold to DCB Bank comprises of 355 million dirhams in assets and 691 million dirhams in liabilities and the sale will be made at par.
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