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Fitch: UAE banks’ capital pressures increase

Posted on 02 December 2009

From Globalarabnetwork.com: Fitch Ratings has published a new report today assessing the ability of United Arab Emirates’ (UAE) banks to absorb higher impairments following Dubai World’s (DW) recent announcement about restructuring its debts.

Given the impact of DW’s announcement, impairments at most UAE banks, in terms of lending and investments, will rise further than had been previously anticipated as a result of direct exposures to DW and Nakheel and because of the secondary effect of a loss of confidence in the Dubai economy……………………………Full Article: Source

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