UAE – Mubasher: Former chief financial officer of NMC Healthcare, Suresh Krishnamoorthy, has reportedly left the UAE with his family on 7 May, through the repatriation flights to India, according to Gulf News.

The move came after the Central Bank of the UAE (CBUAE) requested UAE banks in May to freeze the accounts of Krishnamoorthy and his family, as well as BR Shetty, the founder and chairman of the health group.

The health group has recently revealed more than $6.6 billion in debt that was not disclosed in the announcement of its interim financial statements on 30 June 2019.

To face their bad debts including that of the health group and its subsidiaries, the financial results of Abu Dhabi Commercial Bank (ADCB) and Dubai Islamic Bank (DIB) showed an increase in provisions.

​During the first quarter (Q1) of 2020, both banks, with an exposure of AED 5.58 billion ($1.52 billion) to NMC Healthcare, increased provisions to AED 2.55 billion ($694.1 million).

It is noteworthy to mention that in Q1-2020, ADCB's net profits decreased to AED 207.370 million, driven by an increase in impairment charges, especially AED 1.072 billion on NMC Health Group, Finablr, and associated companies.