Credit losses and low lending to hit UAE banks’ profits this year | The National

Credit losses and low lending to hit UAE banks’ profits this year | The National:



"Profit growth at five of the UAE’s banks is expected to slow this year because of lower lending and an increase in credit losses, according to Standard & Poor’s.



Net profit growth will fall to about 5 or 6 per cent from 21.3 per cent last year, S&P said in a report yesterday.



Among the UAE’s lenders, S&P rates National Bank of Abu Dhabi, Mashreq, National Bank of Fujairah, Abu Dhabi Commercial Bank and Sharjah Islamic Bank."



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