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In spite of the global downturn in the capital markets, the UAE has not only resisted this trend but has even shown record levels of IPO activity. This trend is likely to continue and provide organisations and shareholders new avenues for growth.
The Asset Recovery Fund (ARF) is pleased to announce the purchase of a AED 1.3 billion (US$ 357m) portfolio of distressed non-performing loans (NPLs), from Abu Dhabi Commercial Bank (ADCB), marking the first such portfolio sale from a local bank in the UAE. Grant Thornton, the UAE’s fifth largest professional services firm, supported this purchase by driving the value of ADCB’s NPLs and matching it with the buyer’s expectations.