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Islamic Finance Briefing - Categorized | Banking, Market Moves more

ADCB to stay away from world markets

Posted on 03 February 2010

From Business24-7.ae: Abu Dhabi Commercial Bank (ADCB), one of the largest Gulf banks, said yesterday it would avoid investment in global markets after reporting losses in 2009 because of massive bad-debt provisioning.

Alaa Eraiqat, CEO of ADCB, described 2009 as a year of provisioning for the government-controlled bank, but sounded cautiously optimistic about 2010……………………………………Full Article: Source

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