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Emirates NBD Confident of Growth Prospects
DUBAI - While commenting on S&P’s move, Chief Financial Officer of Emirates NBD Sanjay Uppal commented: “We are confident about the long-term prospects of Dubai and Emirates NBD.” “The first aspect was long-term rating and we believe that the bank is very stable and robust institution and we have nothing as suggested,” said Uppal.
The bank is still expect single digit growth this year, but the second half is more important in terms of growth, he added.
About the S&P concerns for Dubai he said that long-term fundamental of Dubai are extremely sound and the Emirate will continue as the economic hub in the region.
Requirement of the country is not that huge as the S&P has already said that $20 billion programme of Dubai will alleviate liquidity pressure.
Khaleej Times also tried to contact other banks Mashreqbank, but could get any comment.
· abdulbasit@khaleejtimes.com
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