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ENBD expects 40% jump in retail lending
- United Arab Emirates: Tuesday, April 16 - 2013 at 05:18
Emirates NBD has said its retail lending is expected to jump between 25 and 40% this year, as consumer confidence returns in the UAE, Reuters has reported. Suvo Sarkar, head of retail banking at Dubai's biggest lender said a rise in lending is occurring across all sectors, with mortgage lending forecast to double this year and credit card spending, the average amount spent on each transaction, expected to rise 20%. ENBD is due to report first-quarter earnings on April 25; the average forecast of three analysts is for the bank to post a 5.4% rise in net profit against the same quarter last year.
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