British Banks Exposed To Dubai World
By Steve Slater |
December 4, 2009, Friday
|
Print Edition
Print Edition
FOUR British banks have a US$5 billion combined exposure to Dubai World, making them the biggest foreign creditor group at the Dubai state-owned conglomerate, the Financial Times said yesterday.
The report, citing bankers and advisers, said Royal Bank of Scotland was the most exposed with between US$1 billion and US$2 billion. HSBC, Standard Chartered and Lloyds Banking Group had exposure of about US$1 billion each, according to the report.
Emirates NBD was the biggest creditor with outstanding loans of US$3 billion, the FT said.
The United Kingdom banks are among six creditors leading a committee of Dubai World's creditors which will meet the company next week.
The report, citing bankers and advisers, said Royal Bank of Scotland was the most exposed with between US$1 billion and US$2 billion. HSBC, Standard Chartered and Lloyds Banking Group had exposure of about US$1 billion each, according to the report.
Emirates NBD was the biggest creditor with outstanding loans of US$3 billion, the FT said.
The United Kingdom banks are among six creditors leading a committee of Dubai World's creditors which will meet the company next week.
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