UAE banks to struggle to revive lending
- United Arab Emirates: Tuesday, October 30 - 2012 at 02:43
Analysts expect UAE lenders to struggle to revive the GCC's lowest loan growth as central bank rules restrict lending to the government and put caps on personal and retail credit, Reuters has reported. "UAE banks were more exposed to non-performing debt than most of their GCC counterparts," said Liz Martins, senior economist at HSBC Holdings in Dubai. "They are still provisioning for this exposure, and remain highly risk averse." Banks are scaling back credit to government and quasi-sovereign clients to comply with central bank rules that limit their exposure to each at 100% of regulatory capital.
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