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Sunday, 15 January 2017

Banks likely to report modest growth in assets and profitability | GulfNews.com

Banks likely to report modest growth in assets and profitability | GulfNews.com:

"The first three quarters of 2016 saw the UAE banks reporting a general decline in earnings growth driven by rising funding costs, somewhat elevated non-performing loans (NPLs) and slowing private sector loan growth and rising provisions dragging down profits.
With the full year results of banks to be announced starting this week, bankers and analysts expect UAE banks to report single digit loan growth and anaemic profit growth compared to previous years.
Amid the overall subdued trend in credit growth and profitability, banks continue to remain resilient to difficult operating environment resulting from prolonged low oil prices and a slowdown in the UAE’s economic growth from 4 per cent last year to a projected 2.3 per cent in 2016."



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