Abu Dhabi Commercial Bank and First Gulf Bank have more than $500 million (Dh1.83 billion) of exposure to the troubled Saudi business groups Saad and Algosaibi, according to a banking source. "ADCB has significant exposure to the Saudi businesses. It could be easily more than $500m," said a person familiar with the issue yesterday, requesting anonymity. Chief Executive Ala'a Eraiqat declined to comment on the nature or the magnitude of any possible exposure, but said it was mostly backed up with cash deposits held at ADCB. "We are in close contact with them and working with their financial advisors and the rest of the lenders for a speedy resolution," Eraiqat said, and added: "I can't comment on the amounts or give any more details." First Gulf Bank has a small amount of exposure to the troubled Saudi groups, another banking insider said on condition of anonymity. "Although not significant, FGB has some exposure," the source said. First Gulf declined to comment. National Bank of Abu Dhabi has said it has "negligible" exposure to the struggling Saudi groups. Keep up with the latest business news from the region with the daily Emirates Business 24|7 newsletter. To subscribe to the newsletter, please click here .