Suresh Kumar, CEO of Emirates Financial Services & NBD Investment Bank, told attendees at one of the forums that interbank liquidity, which has dried up due to huge EIBOR rates, would probably come back to the marketplace sooner than lending, especially as it is near the end of the year.
'GCC banks, if you measure by loan ratio, appear somewhat stretched at the moment,' Kumar said. 'So they want to show that they have ample stocks of capital, especially to people like the ratings agencies.'
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Interbank liquidity to return 'far sooner than lending'
- Middle East: Wednesday, November 26 - 2008 at 16:55
Commercial banks in the Gulf are likely to hold on to reserves of capital rather than resume lending as soon as the financial constraints loosen, delegates at the Dubai International Financial Centre (DIFC) Week were told.
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Edward Poultney, Editor - EnglishWednesday, November 26 - 2008 at 16:55 UAE local time (GMT+4)
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