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Wednesday, 26 July 2017

UAE banks profit to grow about 5 percent in second half: official

UAE banks profit to grow about 5 percent in second half: official:

"Banks in the United Arab Emirates will post profit growth of around 5 percent in the second half of 2017, similar to the first six months as bad loans ease and lenders weather the Qatar crisis, the head of a local industry group said. Of the five major banks to publish earnings this quarter, four have reported improved profits thanks to higher net interest income and lower impairments for some of them. "If you look at the bank results that have come in so far, collectively there is a growth of five percent," said Abdulaziz al-Ghurair, Chairman of the UAE Banks Federation (UBF) and chief executive of Mashreq MASB.DU, Dubai's third largest lender by assets."



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