British Banks Exposed To Dubai World | Shanghai Daily

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December 4, 2009

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British Banks Exposed To Dubai World

FOUR British banks have a US$5 billion combined exposure to Dubai World, making them the biggest foreign creditor group at the Dubai state-owned conglomerate, the Financial Times said yesterday.

The report, citing bankers and advisers, said Royal Bank of Scotland was the most exposed with between US$1 billion and US$2 billion. HSBC, Standard Chartered and Lloyds Banking Group had exposure of about US$1 billion each, according to the report.

Emirates NBD was the biggest creditor with outstanding loans of US$3 billion, the FT said.

The United Kingdom banks are among six creditors leading a committee of Dubai World's creditors which will meet the company next week.





 

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