UAE banks maintain robust performance | ZAWYA MENA Edition:
"Banks in the UAE recorded a healthy profit growth of 4.6 per cent in 2017 while maintaining a close to zero revenue growth for the second year in a row, latest annual banking data shows. The revenue growth stagnation for the UAE banks stems from a tighter risk appetite as well as portfolio optimisation initiatives of banks which seek to enhance risk-adjusted returns, according to Dr Reinhold Leichtfuss, senior partner and managing director at Boston Consulting Group's Middle East office. In the GCC, while only 18 per cent of banks were able to achieve double-digit revenue growth in 2017, twice as many experienced double-digit profit growth, BCG's annual banking index shows."
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