(Bloomberg) -- Dubai Islamic Bank PJSC’s shares fell the maximum allowed on Sunday after the lender said it had $541 million of exposure to troubled hospital operator NMC Health Plc. They lost 4.8% to trade at 3.19 dirhams shortly after Dubai’s market opened.
Abu Dhabi Commercial Bank PJSC dropped 4.3%, extending its losing streak to a seventh day. The company announced exposure to NMC of nearly $1 billion last week. It asked a U.K. court over the weekend for put the health firm into administration.
The main equity indexes in Dubai and Abu Dhabi weakened 1.7% and 0.3%, respectively.
- NMC Creditor ADCB Calls for Health Firm to Enter Administration
- Dubai Islamic Bank Faces $541 Million Exposure to NMC Health
- Gulf’s Top Two Economies Suffer Record Declines After Virus Hit
- U.A.E. Central Bank Cuts Reserve Requirements, Unveils More Aid
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