ADCB to acquire Mubadala GE's SME loan portfolio | ADCB to acquire Mubadala GE's SME loan portfolio -

ADCB to acquire Mubadala GE’s SME loan portfolio

: Tuesday, April 22 - 2014 @ 09:18

Abu Dhabi Commercial Bank (ADCB) has said it has agreed to acquire a portfolio of asset financing loans worth Dhs450m ($122.5m) from Mubadala GE Capital, Reuters has reported. The portfolio, which comprises loans to small and medium-sized enterprises in the UAE, will strengthen the bank’s position in a sector described by ADCB’s chief executive, Alaa Eraiqat, as “a critical component of the UAE economy.” Established in 2010 to provide structured financing to businesses, Mubadala GE Capital is a joint-venture between Abu Dhabi state investment firm Mubadala and General Electric.

Today's Top Stories

Posted by

Tuesday, April 22- 2014 @ 9:18 UAE local time (GMT+4) Replication or redistribution in whole or in part is expressly prohibited without the prior written consent of Mediaquest FZ LLC.

AME Info Services

Business DirectoryVIEW ALL

Search by name

Search by industry

Browse alphabetically


Search for jobs

Latest Jobs