“ICICI Bank has no material, non-India linked exposure to Dubai corporates,” an ICICI Bank spokesperson told PTI.
As such, questions pertaining to any losses to the bank due to the imminent crisis in Dubai does not arise. State Bank of India said its exposure to Dubai firms are insignificant and ruled out any cause of concern due to the debt crisis there. “Our exposure to the UAE is less than Rs 1,500 crore, which is below 0.3 per cent of the total loan-book of the bank,” a top SBI official told PTI here.
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