gulfnews : UAE lending falls short of forecast

Lending by the UAE's biggest banks is falling short of industry estimates as slower growth in the second-largest Arab economy damps credit demand.
Combined lending by the top seven banks climbed 0.6 per cent in the first quarter to Dh749.5 billion ($204 billion), their earnings statements show. Morgan Stanley and Cairo-based EFG-Hermes Holding both forecast a 5 per cent increase in loan growth in 2012.
UAE economic growth will decelerate to 3 per cent this year from 4.9 per cent in 2011 as oil output growth eases, according to the average forecasts of 12 analysts compiled by Bloomberg.

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