MEXICO, November 27, 2009.- According to Actinver Casa de Bolsa the news that the sovereign wealth fund of Dubai requested a postponement of billions of dollars of debt this week could have an impact in a specific region, but will not affect the whole world.
According to Actinver, UK banks report US$ 49,000 millions exposure and US banks have only US$ 9,000 millions exposure to Dubai World.
The UK banks that report more exposure are HSBC and Standard Charteres. HSBC could loss more than 0.6% of its capital, in a time when HSBC has excess capital.
“Standard Chartered exposure is less than 5%, bigger exposure than HSBC’s one, but we believed that HSBC is more important globally”, said Francisco Suarez, Analyst Director of Actinver.
Events like Dubai didn’t change our perception in Mexico. “We bet for a gradual economic recovery that will not be affected by events like Dubai World”, Suarez add. (El Semanario Agencia ESA)
