From peak to trough
Pricing Dubai risk
It is thought that they have about a $5 billion exposure to the state-investment company which is poised to restructure $22 billion of liabilities.
The biggest exposure is held by RBS followed by HSBC, Standard Chartered and Lloyds. A large chunk of these banks’ exposures is to the performing businesses within Dubai World although RBS, for example, has about $700 million outstanding to the entities put forward for restructuring. The relatively large exposure of UK banks to Dubai is partly for historical reasons and partly because they are the biggest banks, as a group, operating in the emirate.
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