10:01 AM EST, 01/08/2025 (MT Newswires) -- (Updates with Deutsche Bank's ( DB ) response in the third paragraph.)

Deutsche Bank ( DB ) is set to buy a portfolio of bad loans for about $800 million from First Abu Dhabi Bank, Bloomberg reported Wednesday, citing unnamed sources with knowledge of the matter.

The German bank outbid other global candidates including US hedge funds to acquire First Abu Dhabi's non-performing loan portfolio, the report added, citing the people.

Deutsche Bank ( DB ) declined MT Newswires' request for comment, while First Abu Dhabi Bank did not respond.

(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)

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