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Thu 26 Feb 2009 10:19 AM

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Bank committed to bridging loan-deposit gap

NBD Emirates has 3-6 months to lower loan:deposit ratio that now exceeds 125% - paper.

Emirates NBD has three to six months to bring down a loan-to-deposit ratio that now exceeds 125 percent, the bank's chief executive said in remarks published on Thursday.Last week, the United Arab Emirates central bank governor said gross loans and advances at UAE banks at the end of January exceeded deposits by 116 billion dirhams.Sultan Nasser al-Suweidi termed the situation "not appropriate" and said the central bank was working on bridging the gap."Not only our bank, all banks must be working on this," Emirates NBD CEO Rick Pudner said, according to Emirates Business."I am sure within the course of the next few months, we will be able to bring down this to close to 100 percent, which is the prescribed level by the central bank," he said.Emirates NBD is the Gulf region's biggest bank by assets.

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