ADCB and Finance House in Loan Agreement

ABU DHABI — Abu Dhabi Commercial Bank, or ADCB, has signed an agreement to provide a Dh292 million medium-term loan, along with overdraft and guarantee facilities, to Abu Dhabi-based firm Finance House.

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Published: Sun 24 May 2009, 10:38 PM

Last updated: Sun 5 Apr 2015, 9:48 PM

The credit facilities will help Finance House to leverage the incremental opportunity in the market for funding its financing activities in the retail and small and medium enterprise sector.

Finance House is a public joint stock finance company providing financing products and services to personal, corporate and government clients, and has been active in supporting the small and medium enterprise sector.

Ala’a Eraiqat, Chief Executive Officer of ADCB, said that the bank enjoys a strong and long standing relationship with Finance House and that this facility will further add new back up liquidity to support the on-going growth of the finance company.

“We have a long-term commitment to supporting key Abu Dhabi enterprises and like-minded business partners who continue to underpin the development of the UAE and Finance House stands at the forefront of such exciting ventures and initiatives,” Eraiqat said.

· business@khaleejtimes.com

Published: Sun 24 May 2009, 10:38 PM

Last updated: Sun 5 Apr 2015, 9:48 PM

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