The UAE Central Bank said provisions for bad loans among UAE banks surged almost 36 per cent to Dh44.3b at the end of December 2010, up Dh11.7b from Dh32.6b in December 2009.
Banks in the country have seen a rising level of non-performing loans since the onset of the global financial crisis in late 2008, and have seen their provisions for bad loans more than double in two years, from Dh19.7b at the end of December 2008 – an increase of 125 per cent in two years.
General provisions, on the other hand rose 17 per cent in 2010, from Dh10.7b at the end of 2009 to Dh12.5b in 2010. General provisions too have surged 136 per cent in two years, from Dh5.3b at the end of 2008.
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