Bank results good news for UAE | GulfNews.com:
"In many ways, the financial services industry is a bellwether of the health of the economy. Financial institutions allocate money from those who have savings or capital, to those who need it to invest in growing businesses. Demand for financing is often an indication that companies are investing and expanding their activities. Demand for mortgages can be an indication that the property market is strengthening, while an increase in demand for consumer financing might be good news for retailers and others in services industries.
This is why the good second-quarter results released by Emirates NBD are an indication of the strength of the UAE economy — although analysts correctly warn against reading too much into it, for now. The National Bank of Abu Dhabi (NBAD) has also reported good results for the first half of the year, as has Rakbank for the second quarter. There are expectations that other UAE financial institutions will follow suit. If they do so, it will be an important signal that the economy is continuing to cope with the global economic and financial volatility."
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