Dubai: National Bank of Fujairah borrowed Dh772m ($210m) from a bring of 12 banks to refinance responsibility and delegate it to confer more. National Bank initially sought a three-year accommodation of $150 million, then increased it after banks led by Commerzbank AG agreed to loan more, it said in a statement. National Bank, in which Fujairah emirate owns a 39 percent pole and Dubai owns 10 percent, on May 13 said first-quarter aid mow 31 percent to $15 million as its investment takings declined.
The bank has a $130 million allowance maturing in December that pays hold of 0.3 share verge more than benchmark rates, and 100 million dirhams ($27 million) of bonds outstanding, observations compiled by Bloomberg show. Banks that contributed to the immature credit take in Arab Bank Plc, Bayerische Landesbank, Standard Chartered Plc and Wachovia Corp., according to the statement. Post this dispatch to:.
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