UAE’s banking sector returns to a strong growth trajectory, says IIF | GulfNews.com:
"The first quarter data from the leading UAE banks indicate that the banking system in the country has turned around with strong rebound in profitability; decline in non-performing loans (NPLs) and asset growth, Garbis Iradian, Deputy Director of Institute of International Finance (IIF), told Gulf News in an interview.
IIF, the Washington based global association of financial institutions, recently said the soundness indicators of the UAE banking system have further improved this year with strong improvement in capitalisation levels, increase in profitability and further easing of liquidity situation. The 2013 full-year results showed the UAE banks showed an average year-on-year increase of 14 per cent in net profits while the first quarter profits of banks show a strong improvement in profitability.
“The largest eight banks, which account for more than 80 per of the total assets of the banking system have recorded impressive growth in the first quarter of 2014 with profits increasing by 21 per cent on average, year-on-year,” said Iradian."
'via Blog this'
No comments:
Post a Comment