UAE banks reveal exposure of Dh8bn to NMC Health – The National

UAE banks reveal exposure of Dh8bn to NMC Health – The National

UAE banks revealed a combined exposure of at least Dh8bn to NMC Health on Sunday, rising to Dh9.5bn when amounts also owed to founder BR Shetty's Finablr group and its subsidiary UAE Exchange are added in.. Stockmarket-listed companies disclosed their exposure to the companies following the news that Abu Dhabi Commercial Bank is looking to appoint administrators to NMC Health, which is the country's biggest private healthcare operator.. "The combined liabilities of NMC Health Group and the Finablr Group to ADCB Group represent circa 1 per cent of ADCB Group's total assets," the lender said in a statement to the Abu Dhabi Securities Exchange, where its shares trade.. Abu Dhabi Islamic Bank is owed $291.4m, and has a $31m investment in an NMC Health sukuk.. Dubai's biggest lender, Emirates NBD, is owed Dh747.3 million - most of which is due to Emirates Islamic Bank.. National Bank of Fujairah is owed Dh289.1m by the three companies, but only Dh12.9m of this is owed by NMC Health.. The healthcare giant also owes Dh151.9m to Ajman Bank, Dh135.3m to United Arab Bank and has Dh100.2m in working capital facilities with RAKBank.. ADCB said in a statement on Saturday it is looking to appoint