| 09 Mar 2010 |
|
Adib largest net lender in UAE interbank market
- Text size
Abu Dhabi Islamic Bank (Adib)Abu Dhabi Islamic Bank (Adib)
, the oldest and the only listed Islamic bank from the capital, claims to be the largest net financier in the UAE's interbank market.Talking to Emirates Business, Tirad Mahmoud, the bank's Chief Executive Officer, said the bank is very comfortable on liquidity and hence has financed in the interbank market hugely.
Mahmoud said AdibAdib is a net lender of Dh14 billion in the interbank market.
The analysis of the balance sheets of a few large banks in the country shows that other than Abu Dhabi Commercial BankAbu Dhabi Commercial Bank, most banks are net borrowers in the interbank market. While "due to banks" shows the borrowing, "due from banks" shows the lending in the interbank market and the difference gives the net position of the bank.
While National Bank of Abu Dhabi's (NBAD)National Bank of Abu Dhabi's (NBAD)
due from banks is to the tune of Dh19.520bn, its due to banks shows a whopping Dh30.776bn. This shows that NBADNBAD is a net borrower in the interbank market to the extent of Dh11bn.In the case of ADCBADCB, while the bank's lending is Dh18.348bn, borrowings stand at only Dh4.738bn as ot end-December 2009.
In the case of First Gulf BankFirst Gulf Bank
(FGBFGB), while the borrowing is Dh1.940bn, the lending stands at Dh4.626bn.UAE's largest bank Emirates NBDEmirates NBD's year-end details on interbank market transactions are not available.
As of September end, Emirates NBDEmirates NBD's lending stands at Dh16.413bn, whereas its borrowing was Dh38.533bn.
"We are one of the most comfortable banks in the country in terms of liquidity, with our financing [lending]-deposits ratio staying at 83 per cent," said Mahmoud.
By CL Jose
© Emirates Business 24/7 2010
Zawya is a distributor (and not a publisher) of content supplied by third parties and subscribers. Any opinions, advice, statements, services, offers, or other information or content expressed or made available by those third parties, including information providers, subscribers or other users of the Service, are those of the respective author(s) or distributor(s) and not of the Company. The Company neither endorses nor is responsible for the accuracy or reliability of any opinion, advice or statement made on the Service by anyone other than authorized Service employee spokespersons while acting in their official capacities. The Company is not responsible for any infringement of intellectual property rights or breach of any applicable law or regulation, including regulation in relation to financial services or the distribution of financial products, defamation, data protection, telecommunications (including regulations relating to excessive use, spamming or other abusive activities) or obscene, offensive or illegal content). Under no circumstances will the Company be liable for any loss or damage caused by a member's reliance on information obtained through the Service. It is the responsibility of member to evaluate the accuracy, completeness or usefulness of any information, opinion, advice or other content available through the Service. Please seek the advice of professionals, as appropriate, regarding the evaluation of any specific information, opinion, advice or other content.
Read the full Member Agreement
http://www.zawya.com/legal/NewsLetter.cfm?name=disclaimer
More News in Islamic Finance
Loading ...
Post a Comment
1.1 Contain any material which is libelous or defamatory of any person, is obscene, offensive, hateful or inflammatory or causes damage to the reputation of any person or organisation.
1.2 Promote sexually explicit material, violence, discrimination based on race, sex, religion, nationality, disability, sexual orientation or age or any illegal activity.
1.3 Be made in breach of any legal duty owed to a third party, such as a contractual duty or a duty of confidence.
1.4 Be threatening, abuse or invade another's privacy, or cause annoyance, inconvenience or needless anxiety.
1.5 Be used to impersonate any person, to misrepresent your identity or affiliation with any person, or be likely to deceive any person.
1.6 Give the impression that they represent Zawya.
1.7 Advocate, promote or assist any unlawful act such as (by way of example only) copyright infringement or computer misuse.