UAE banks to report robust results for full year 2021 | Banking – Gulf News
UAE banks are expected to report robust results for full year 2021 supported by improved economic conditions, rising operating incomes, better operational efficiencies and a modest recovery in interest margins.
Top UAE banks had delivered consistent improvement in asset quality and profitability in the first three quarters of 2021 supported by steady recovery in the local economy.
Declining costs, improving economy
Data shows, at the end of the third quarter, cost to income (C/I ratio) was at the lowest since 2018 with operating incomes far outpacing costs.
While the focus on reining in operating costs through optimization of branch network, rationalistaion of workforce, operating efficiencies gained from recent mergers and significant adoption of digitialisation have seen big cost savings for banks.
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