Slow Credit Growth Challenges UAE Bank Profits
Slow Credit Growth Challenges UAE Bank Profits

Slow Credit Growth Challenges UAE Bank Profits

Slow Credit Growth Challenges UAE Bank Profits

Muted private sector credit growth is expected to remain a big challenge for banking sector profitability. Credit growth in the UAE strengthened to 0.5% month on month in February, the fastest pace since September 2016, according to the monthly data from the Central Bank of UAE, Arabian Business reported. The stronger monthly credit growth in February was largely driven by the government related entities segment, which was up 1.9% compared to January following two consecutive months of contraction. Despite the month-on-month growth, annual loan growth decelerated further to 5.4% on year last month, reflecting the overall soft pace of credit expansion since the fourth quarter of 2016. Union National Bank reported a relatively strong 8% year on year growth in loans and advances, while the average credit growth for the sector is expected to be in the range of 5 to 7% this year.


Short URL : https://goo.gl/6j0ami
  1. https://goo.gl/ZnoUHM
  • https://goo.gl/qJV7uA
  • https://goo.gl/X8zM9x
  • https://goo.gl/0htJKW
  • https://goo.gl/jDZDj0

You can also read ...

Business confidence fell to its lowest level since August 2013 and around 7% of companies expected a contraction.
According to data from the International Monetary Fund in...
China Warned of Ballooning SOEs
Former chief of the World Bank Robert Zoellick cautioned China...
New Zealand Q2 GDP Growth Picking Up
New Zealand’s economic growth is expected to have accelerated...
Shrinking unemployment in the US, Japan and the eurozone finally forces companies  to lift wages to retain and attract staff.
Workers in the world's richest countries are getting their...
Saudi Sovereign Fund Secures $11 Billion Loan
Saudi Arabia's sovereign wealth fund said Monday it had...
Lira Eases Against Dollar
Turkey’s lira weakened against the dollar on Monday as...
By 2025 more than half of all current workplace tasks  will be performed by machines.
Robots will handle 52% of current work tasks by 2025, almost...
Myanmar Businesses Want Lower Taxes
Myanmar businesses are urging the government to lower the...

Add new comment

Read our comment policy before posting your viewpoints