ADCB follows FGB, settles debt from public sources
- United Arab Emirates: Wednesday, March 06 - 2013 at 15:21
The Abu Dhabi market measure ADXGI closed 0.60% lower at 3,001.95 Wednesday, representing a 2-week low. Abu Dhabi Commercial Bank or ADCB slipped half a percentage point to Dhs3.92. Earlier in the day, the UAE's third biggest lender said it repaid Dhs4bn ($1.10bn) of a Dhs6.6bn subordinated loan to the ministry of finance (MoF). The loan was made in Dec. 2009 at the height of the global financial crisis. Earlier this week, Abu Dhabi-based First Gulf Bank settled 100% of a Dhs4.5bn ($1.22bn) to the MoF.
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