National Bank of Abu Dhabi still 'selectively' lending in Dubai

Dubai at night

The National Bank of Abu Dhabi will continue to extend loans to clients in Dubai "selectively", despite the request by the gulf emirate's flagship entity, Dubai World, for a debt standstill, which has created a $345 million exposure for the bank in the entity's property arms.

Speaking at a press conference on Thursday to announce the opening of the Abu Dhabi government-owned bank's first Asian branch in Hong Kong, group chief executive Michael Hardwick Tomalin said the bank's lending policy

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