After enduring three consecutive years of asset impairments and rising provisions which ate into profits, most UAE banks see a light at the end of the tunnel.
Ahead of the first quarter results, banking analysts said this year will be a year of a big comeback in terms of profitability for the banks after more than three years of balance sheet repair.
"The current year is expected to bear sweeter fruit, with one-off adjusted profits rising 22 per cent year on year. Bottom-line growth is anticipated to be driven by a drop in provisions," said Naveed Ahmad, senior financial analyst with Global Investment House.
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