Monday 15 October 2012

Big UAE banks await profits rebound - The National

Analysts are hoping for a long-awaited rebound in profits at Dubai's biggest banks as they report quarterly earnings in the coming weeks.

But a return to full health remains far off for the majority of the sector. The latest Central Bank data showed that levels of capital lent out at the end of August were barely higher than two months earlier. Expectations are that poor revenue growth may yet mar the performance of the rest of the sector.

"Loan growth numbers continue to be sluggish and we do not see the situation improving in the near term, given the ongoing deleveraging process in the corporate sector and tighter regulations surrounding retail, corporate and sovereign exposures," analysts from Deutsche Bank wrote in a research note.

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