The UAE's banks came into this year hoping against hope for recovery after almost three years of stress, a period punctuated by a surge in bad loans in the wake of the global financial crisis and the bursting property bubble.
In some ways, they got what they wished. Profits at all of the country's five biggest banks by assets rose in the first nine months of the year.
Emirates NBD, the largest, made Dh2.3 billion (US$626.1 million) during that period, almost surpassing its profits for all of last year. Abu Dhabi Commercial Bank, the third-largest, is on track to more than quadruple profits this year.
No comments:
Post a Comment