UAE’s bad loan days ‘are behind us,’ says country’s top banking head Abdul Aziz Al-Ghurair:
The UAE banking sector is well-positioned for future growth, with the days of “bad loans” dragging down bank balance sheets “behind us,” according to the country’s top banking head Abdul Aziz Al-Ghurair.
“I think banking in the UAE is in a very good position,” said Al-Ghurair, who is the CEO of Mashreq Bank in Dubai and the chairman of the UAE Banks Federation.
“Our capital adequacy is at 17 percent so this is pretty high around the world. The cost to income ratio is below 40, which is a really fantastic number so ability to generate profit is high,” he said, speaking to Arab News on the sidelines of a conference in London.
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