Economic revival boosts H1 revenues and profits of UAE banks | Banking – Gulf News
All leading banks in the UAE have reported strong growth in both revenues and net profits in the first half of 2021, clearly pointing to a sustained revival in the economic conditions in the country.
Most banks have also reported loan growth, deposit growth and substantial gains in non-interest income that to a great extent mitigated slower growth in interest income due to the low interest rate environment.
A substantial decline in impairments and loan loss provisions indicate improvements in credit conditions supported by robust revival in the economy.
The latest Credit Sentiment Survey of the Central Bank of UAE also shows, the overall credit appetite for both corporates and personal loans improved in the second quarter and is poised for further gains in the second half of the year.
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