SME loan impairments to reach between Dh5b and Dh7b | GulfNews.com:
"The UAE banking sector is expected to face a big surge in possible defaults — also known as loan impairments — from small and medium enterprises (SMEs) this year, said AbdulAziz Al Ghurair, Chairman of UAE Banks Federation.
Al Ghurair who is also the CEO of Mashreq said banks in the country have been experiencing higher impairments from the SME sector since the beginning of this year.
“We could expect the total impairment from SME lending ranging between Dh5 billion and Dh7 billion for the full year. We are trying to collect full information from banks,” he said."
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