Banks in the United Arab Emirates are filling the gap left by European institutions pulling back from the country's loan market - a trend that benefits local lenders even as margins face pressure and regulation weighs on growth.
Lending in the UAE, the second biggest Arab economy, grew just 1.8 percent in June from the end of December, according to central bank data.
But most local banks reported loan growth that exceeded the market rate. Six of the eight largest local banks by stock market capitalisation did so, led by First Gulf Bank with a 6 percent rise and Mashreq, up 5.1 percent.
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