Slow UAE credit growth set to linger on in 2018 | GulfNews.com:
"Slow credit growth driven by weak credit demand in UAE in 2017 is expected linger on this year, economists and analysts have said.
UAE Central Bank Data on credit growth released in December showed weak credit demand in 2017. Gross loans fell 0.9 per cent month-on-month in December, resulting in an annual growth of just 1.7 per cent.
“The monthly fall in total loans in December appears to be a seasonal effect, with similar trends seen in the previous three years. Lower GRE [government-related entities] borrowing [-6.4 per cent] month-on-month was largely behind the overall drop in December 2017, suggesting a notable repayment of debt,” said Monica Malik, chief economist at Abu Dhabi Commercial Bank (ADCB)."
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