HSBC's lending in the Middle East declined during the first quarter of the year, signalling poor growth prospects for the wider economy.
The biggest international bank operating in the region shrank its total loan book, to individuals and companies, by 0.8 per cent to US$27.3 billion (Dh100.27bn) in the first quarter.
The Middle East was the only region where the bank experienced a shrinkage in its lending, as it boosted credit lines to Asian markets and increased its lending to individuals in Europe.
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