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Bonds News

FACTBOX-Foreign bank loan exposure to UAE

 Nov 27 (Reuters) - Worries about exposure to debt problems
in Dubai have rattled bank share prices since Wednesday after
Dubai, part of the United Arab Emirates federation, asked to
delay payment on debts of two flagship firms. [ID:nGEE5AQ13P]
 Most banks have declined to comment on their exposure.
 Europe's biggest bank, HSBC Holdings HSBA.L 0005.HK,
said at the time of its first-half results in August its loan
exposure to UAE was $15.9 billion at the end of June, down from
$17.5 billion at the end of 2008.
 The following is the loan exposure of the top 10 foreign
banks to the UAE at the end of 2008 (source: Emirates Banks
Association):
 
 Bank                       Loans to UAE         In dollars
                    (blns of UAE dirhams)  (current FX, blns)
 HSBC                          62.56              $17.03
 Standard Chartered STAN.L   28.54               $7.77
 Barclays BARC.L             13.14               $3.58
 ABN AMRO* RBS.L              8.23               $2.24
 Arab Bank ARBK.AM            7.66               $2.09
 Citigroup C.N                7.06               $1.92
 Bank of Baroda BOB.BO        6.54               $1.78
 Bank Saderat Iran              6.38               $1.74
 BNP Paribas BNPP.PA          6.20               $1.69
 Lloyds LLOY.L                5.77               $1.57
 
 *ABN AMRO was bought by a trio of banks in 2007. Its investment
bank unit was bought by Royal Bank of Scotland.
 (Editing by Toby Chopra)
 ($1=3.673 Uae Dirham)
 ((steve.slater@reuters.com; +44 207 542 4367; Reuters
Messaging: steve.slater.reuters.com@reuters.net))
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