Bad loans catch up with UAE’s big banks | The National:
"The growing level of non-performing loans has finally started to weigh on some of the UAE’s biggest banks after throwing some smaller rivals off kilter in recent quarters.
National Bank of Abu Dhabi (NBAD), the UAE’s biggest bank by assets, said yesterday that its fourth-quarter profit slid 25 per cent while Mashreq, the Dubai-based lender, said income in the last quarter of the year fell about 14 per cent, as the steepest drop in crude oil prices since the financial crash of 2008 takes its toll on business confidence.
Dubai Islamic Bank, the largest Sharia-compliant lender, bucked the trend however, with income for the period gaining 38 per cent as provisions during 2015 fell from the previous year."
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