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Islamic Finance Briefing - Categorized | Banking, Market Moves more

ADCB shifts focus to growth at home

Posted on 09 December 2011

Abu Dhabi Commercial Bank (ADCB) is pulling back from international markets and focusing on domestic growth as bad loans rise and it tries to curb expenses, the lender said in an updated prospectus for a bond programme launched three years ago.
ADCB sold its first sukuk last month, a $500 million issue, but the bank said the update to its prospectus did not portend further sales. “This filing is done to keep the programme updated, and ADCB currently has no plans to tap the wholesale markets,” Kevin Taylor, the bank’s treasurer, told Bloomberg News………………………………………..Full Article: Source

 
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