Creditors of state-owned Dubai World
We have to reply to Dubai World first, there is a timeframe. In weeks we will get back to Dubai World (on the creditors' proposals), Ala'a Eraiqat, chief executive of Abu Dhabi Commercial Bank
Several of the main seven banks, who are believed to have the most exposure among Dubai World's 97 creditors, have expressed their initial support for the restructuring plan.
A source familiar with the matter said the panel of creditors would hold meetings this week.
Separately, the head of Dubai's main fiscal committee said the emirate was ready to support any state-linked firms that may require help but that Dubai Holding, the ruler's investment vehicle, did not need assistance.
Dubai Holding doesn't have any problem, Sheikh Ahmed bin Saeed al Maktoum told reporters.
Sheikh Ahmed heads Dubai's Supreme Fiscal Committee, the body that oversees the distribution of funds to state-linked firms, including Dubai World.
If there is anybody we can support, we will. But every other business related to Dubai is doing well.
In March, the Financial Times reported that Dubai Holding
UAE lenders have seen profits declining in the wake of the global economic slump, raising concerns about their capital rations.
ADCB in January posted a fourth-quarter loss of 1.2 billion UAE dirhams ($326.8 million) after booking impairments of 2 billion dirhams in that period alone.
Analysts expect the bank to post an average first-quarter net profit of 270.06 million dirhams.
Every restructuring will have implications on provisions, Eraiqat said on Monday.
But ADCB's chairman Eissa Al Suwaidi, speaking at the same event, said banks have enough liquidity and do not need more.
He also said ADCB doesn't have any plans to issue new bonds.
(Reporting by Stanley Carvalho; Editing by Amran Abocar, Mike Nesbit)