Reported about 22 hours ago
Deutsche Bank AG is poised to acquire an $800 million portfolio of distressed loans from First Abu Dhabi Bank, the largest lender in the UAE. This deal marks a significant move within the Gulf's distressed debt market as Deutsche outbid various international competitors, including US hedge funds. The acquisition signals Deutsche Bank's expanding focus on the Middle East, following a trend where banks in the region have increasingly sold off non-performing loans to improve their financial standing.
Source: YAHOO