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UAE's bank debt to rise in 2010
- United Arab Emirates: Tuesday, February 09 - 2010 at 09:13
Non-performing loans are expected to swell almost 50% to nearly Dh65bn ($17.69bn) in the UAE this year, the National has reported. The rise is likely to force lenders to set aside more reserves to protect themselves. 'Non-performing loans are already at a reasonable level,' Sultan Nasser al Suwaidi, the Central Bank Governor, was quoted as saying yesterday. 'If you take into account write-offs, non-performing loans would be higher.'
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StaffTuesday, February 09 - 2010 at 09:13 UAE local time (GMT+4)
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