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Mortgage defaults to hurt UAE banks in Q3
- United Arab Emirates: Tuesday, September 08 - 2009 at 14:22
UAE banks are expected to perform better in the third quarter but their net income could be stifled because of possible defaults by real estate debtors, analysts said yesterday. The country's banking sector, the largest in the Arab World, has already reeled under massive provisioning in the second quarter following exposure by some key banks to the troubled Saudi family businesses of Saad and Algosaibi. (MAC Capital Advisors)
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StaffTuesday, September 08 - 2009 at 14:22 UAE local time (GMT+4)
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