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Islamic Finance Briefing - Categorized | Banking, Market Moves more

Emirates NBD may take over Amlak next year

Posted on 19 December 2011

Emirates NBD, the UAE’s largest bank by assets, could take over Islamic property finance company Amlak next year. This along with the recent takeover of Dubai bank will adversely impact the bank’s profitability and capitalisation levels, HC Securities, a brokerage firm, said.
The acquisition of Dubai Bank, according to the brokerage, lowered the shareholder value slightly and has a negative impact of one percentage point on Tier 1 capital. The report said there is a chance of Emirates NBD buying Amlak………………………………………..Full Article: Source

 
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