close

policy

We would like to invite you to continue a survey you have started. ...

Do you trust your insurer ?

Strongly agree
Agree
Disagree
Strongly disagree
Insurance provides peace of mind
Insurance is purchased only when compulsory
Terms and Conditions (small print) are clear and easily accessible
Insurance jargon (language) stands in the way of fully understanding each policy
Insurance companies try their best to uphold the details of the policy without cutting corners
Reducing risk, cutting costs and profits are more important to an insurance company than the customer
Insurance companies in the region are as professional as in other more developed markets
Gender
Age group
Do you feel your insurance provider works in your interest?
Have you had a rejected claim that you feel was not justified?
Do you trust your insurance provider?
Our Network

Register for our free newsletter

 
 
Latest News

Amlak deal would hit Dubai’s ENBD Tier 1, says broker

Emirates NBD, Dubai's largest bank by assets, could see its Tier 1 capital ratio fall by nearly 1.1 percentage points if it is forced to absorb embattled property lender Amlak Finance, HC Securities said on Sunday.

0

December 18, 2011 11:39 by



ENBD, which is 56-percent owned by the government of Dubai, has already taken on one debt-ridden financial institution, Dubai Bank, at the behest of the authorities — resulting in a Tier 1 drop of 1 percentage point under the Bank of International Settlements (BIS) ratios, the brokerage said in a research note.

“We expect a government solution for Amlak, which, due to its very sizeable property investment portfolio, is in an even worse position than Dubai Bank was,” HC said.

“However, even if ENBD were to acquire Amlak at the same terms as Dubai Bank (i.e. for virtually nothing), its capital ratios would suffer a substantial negative impact (1.08 percentage points on BIS ratio, 0.75 percentage points on Tier 1 under Basel II, and 0.65 percentage points on common equity Tier 1 under Basel III).”

ENBD’s shares closed Thursday at 3.17 dirhams ($0.86). ($1 = 3.6730 UAE dirhams) (Reporting by David French; Editing by Sitaraman Shankar)



0

Tags: , , , , , , , , , ,

Leave a Comment