Nothing seems to have changed dramatically for UAE banks in the first quarter of 2011 except gradual improvement in liquidity, capitalisation levels and reduction in provisioning for bad loans.
Most leading banks in the country missed anal-ysts' estimates on key performance indicators such as profits, provisions and loan growth. Loan growth in 2010 was 4.4 per cent and going by the first quarter trend both bankers and analysts expect it to remain soft for the rest of the year.
Emirates NBD, the UAE's biggest bank by assets, reported a 27 per cent increase in its first quarter profits helped by gains from the sale of a 49 per cent stake in Network International, its credit card processing unit, which resulted in a gain of Dh1.8 billion.
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