ADCB plans $1b infrastructure fund

BY HASEEB HAIDER

ABU DHABI - Abu Dhabi Commercial Bank (ADCB) is finalising its plan to offer a $1 billion mega infrastructure fund in the coming months to help finance several projects being launched in the country.

"Some huge developments are taking shape here, and as a bank, we want to become active part of that so we are arranging capital requirements to finance them," said Ervin Knox, Chief Executive Officer, ADCB, while speaking to reporters after presenting a cheque of $1 million to a lucky winner of a deposit promotion.

The bank is proactive in raising capital to meet the requirements of a growing balance sheet, said Knox as ADCB concluded two major deals last week.

Full Story...

Posted by rjorr at November 23, 2006 3:38 PM