Banks fortify balance sheets to meet challenges ahead | GulfNews.com:
"The first quarter results of half a dozen banks published last week showed that the UAE banks are well prepared to meet the challenging global and regional economic conditions.
While a few banks had announced restructuring of their balance sheets in the beginning of the year involving reduction in exposures to risky portfolios, a few had made full provisions for legacy non-performing loans. Some of these efforts have already started showing results with a few other banks stepping up efforts to fortify their balance sheets.
Emirates NBD which reported a first quarter net profit of Dh1.8 billion, up 8 per cent compared to the first quarter of 2015. The bank’s balance sheet remained strong in the first quarter of 2016. Credit quality improved as the impaired loan ratio advanced from 7.1 per cent to 6.9 per cent during the quarter whilst the impaired loan coverage ratio also strengthened to 113.5 per cent.
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