UK banks have a total exposure to Dubai World of about $5bn, the Financial Times has learnt, confirming them as the biggest foreign creditor group at the crisis-hit emirate holding company.
Banks are still scrambling to pin down their exposure to Dubai World since the announcement last week of a standstill to debt repay-ments.
But bankers close to the situation said last night that Royal Bank of Scotland was the most exposed of the UK banks, ahead of HSBC, Standard Chartered and Lloyds.
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