HSBC Bank Middle East Ltd. said it started a 1 billion-dirham ($272 million) international trade fund for small and medium-sized businesses with 30 percent allocated to companies held by United Arab Emirates nationals.
Loan growth at the bank in the small and medium business segment grew about 20 percent in 2011 and will probably increase by just under that figure in 2012, Nick Levitt, HSBC’s head of U.A.E. commercial banking in Dubai, said today at a conference in Abu Dhabi. Total loans outstanding for the bank in the segment are valued at $600 million, he said.
Total loan growth in the U.A.E. in the first-quarter was 0.7 percent, Levitt said.
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