With customers voting with their feet and problems at its parent, Emirates Islamic Bank (EIB) may not be the best place for investors to place their funds just now.
That is what Shabbir Malik, a banks analyst for EFG-Hermes, who forecasts weak prospects at EIB, says anyway.
“We are expecting the loan book to be lower than the sector average for [EIB’s parent] Emirates NBD and its subsidiaries, which we expect to grow slower than its sector. We expect growth to come from Abu Dhabi banks.”
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