UAE banks may face tougher times amid slowing growth in loans | The National

UAE banks may face tougher times amid slowing growth in loans | The National:

"UAE banks may face a tough slog next year as loan growth slows amid lower oil prices, according to Alex Thursby, the chief executive of National Bank of Abu Dhabi.

As a result of the slowing rate of economic growth, Mr Thursby said he expected UAE loan growth to rise by about 5 per cent, nearly half the expansion rate over the past few years.

“I think financial services over the next 18 months will be a much tougher business than it has been in the previous 18 months, and the reason I say that is people have generated growth through growth of assets,” he said in an exclusive interview. “That’s slowing down, margin compression is continuing and markets are growing less.”"



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