Tuesday 19 April 2011

Dubai's Mashreq Bank retail NPLs peaked in 2010 - exec | Reuters

Mashreq Bank MASB.DU expects its retail non-performing loans (NPLs) to improve in 2011 after bad loans peaked last year, the head of Dubai lender's retail bank said on Tuesday.

While the overall retail banking sector may continue to face challenges in 2011, Mashreq's non-performing loans ratio is set to improve, Douglas Beckett told reporters at an event to launch a new loyalty rewards programme in Dubai.

"The retail banking sector will remain extremely difficult," said Beckett, adding that some signs of improvement, such as increased credit card spending, were visible.

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