DUBAI: Emirates NBD, Dubai’s largest lender, has repaid the remaining Dh4bn ($1.1bn) of support which it received from the United Arab Emirates government in 2008, the country’s finance ministry said.
The UAE ministry of finance injected Dh70bn into the country’s banks to shore up balance sheets after the collapse of Lehman Brothers in September 2008 triggered a crisis in the world’s financial system.
“Emirates NBD informed the ministry this week that it had repaid Dh4bn to the Finance Ministry which is the final payment of the government subsidies that the bank had received,” the ministry’s website quoted undersecretary Younis Haji Al Khoori as saying in a statement. Reuters
