Profit at large UAE banks to decline modestly in 2019, Moody's says - The National:
The profitability of the UAE's four biggest banks is predicted to decline slightly to 1.7 per cent in 2019, from 1.8 per cent last year, Moody’s Investors Service said in a report on Wednesday.
Operating expenses will increase as investments are made on technology and expansion plans, the ratings agency said.
“Provisioning charges will also increase owing to pressure in the property and hospitality sector, and in the retail segment, amid a soft non-oil economy,” it added.
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