The local banks in the UAE are well capitalised and banking sector in the country will remain on its slow road to recovery heading into next year, according to a latest forecast.
The business environment and infrastructure is very favourable and regulators are well regarded, Business Monitor International (BMI) said in its new report on commercial banking in the UAE.
Citing opportunities for banking sector in the country the report said: “Lending to the government, a segment that has largely been closed to the foreign banks, has been exploding. It should continue to grow, if at a more measured pace. At some stage, the privatisation of former state-owned enterprises should resume. This should provide opportunities for both commercial banks and investment banking Affiliates."
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