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Sovereign Wealth Funds Briefing - Categorized | Financials, Performance

Dubai’s top lender sees further rise in 2011 NPLs

Posted on 11 February 2011

From Forexyard.com: Emirates NBD expects its bad loans ratio to rise further in 2011 as the restructuring of indebted Dubai Holding and other corporate exposures continue to weigh on profitability, the lender said on Thursday. ENBD is 56 percent owned by the Investment Corporation of Dubai (ICD), the emirate’s sovereign wealth fund.
ENBD, Dubai’s largest bank by market value, reported sharply higher fourth-quarter profit but impairments on non-performing, or bad, loans and on investments hit its yearly results……………………………………….Full Article: Source

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