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Islamic Finance Briefing - Categorized | Banking, Capital Market (Equity, Mutual Funds) more

Goldman cuts ADCB, DIB to sell

Posted on 21 June 2011

Banks in the UAE will continue to shore up liquidity and de-leverage, Goldman Sachs said as it downgraded three banks in the region following strong share price performance. Goldman downgraded Abu Dhabi Commercial Bank to “sell” from “buy,” Dubai Islamic Bank to “sell” from “neutral,” and Emirates NBD Bank to “neutral” from “buy.”
The brokerage also cut its share price target on the UAE banks by 10 per cent on average, mainly to account for an expected negative impact from tighter consumer finance regulation……………………………………….Full Article: Source

 
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