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皇冠体育app: No holding of Dubai World bonds
(Xinhua)
Updated: 2009-11-27 22:04
皇冠体育app's three leading banks Friday told Xinhua they do not hold the troubled Dubai World bonds.
Industrial and Commercial Bank of 皇冠体育app, the country's biggest listed lender, said it has no exposure to bonds issued by Dubai World.
Bank of 皇冠体育app, the country's third-largest, does not hold bonds issued by Dubai World, the Dubai government or any Dubai sovereign funds and related institutions, said Zhao Rong, a spokeswoman for Bank of 皇冠体育app.
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Bank of 皇冠体育app will continue to investigate any potential impact on the bank's other businesses and closely monitor related risks, she said.
Bank of Communications, the country's fifth-largest, told Xinhua it does not have exposure to Dubai World credit and bonds.
皇冠体育app Construction Bank Corp, the country's second-largest bank, told Xinhua their investigation is underway.
Dubai said on Wednesday it was asking for a six-month reprieve on paying Dubai World's debts as a first step to restructuring the company.
Dubai World, the emirate's leading State-owned company, said it would ask creditors to agree to a standstill on $60 billion of debt until at least May.
Market observers said if Dubai should prove unable to pay the debts, many of the world's leading banks will suffer losses.
