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

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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.

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