Browse
related articles
UAE credit growth rose 1.3% in September
- United Arab Emirates: Monday, November 19 - 2012 at 03:52
According to figures from the UAE central bank, domestic credit by banks operating in the country has surged by around Dhs13bn in September, marking one of the largest monthly increases since the 2008 global fiscal meltdown, Emirates 24-7 has reported. From around Dhs1.09trn at the end of August 2011, total loans provided by the banks operating in the second largest Arab economy swelled to nearly Dhs1.1trn at the end of September, an increase of about 1.2% month-on-month and 3% since the end of 2011, the report showed. Lending also was up by around 2.6% year-on-year, indicating credit is gradually picking up in the UAE. But credit growth remained a fraction of the lending level during the boom years of 2007-2008, when it climbed by at least 30%.
Related Content
Article Options
Disclaimer »
The information comprised in this section is not, nor is it held out to be, a solicitation of any person to take any form of investment decision. The content of the AMEinfo.com Web site does not constitute advice or a recommendation by AME Info FZ LLC / 4C and should not be relied upon in making (or refraining from making) any decision relating to investments or any other matter. You should consult your own independent financial adviser and obtain professional advice before exercising any investment decisions or choices based on information featured in this AMEinfo.com Web site.
AME Info FZ LLC / 4C can not be held liable or responsible in any way for any opinions, suggestions, recommendations or comments made by any of the contributors to the various columns on the AMEinfo.com Web site nor do opinions of contributors necessarily reflect those of AME Info FZ LLC / 4C.
In no event shall AME Info FZ LLC / 4C be liable for any damages whatsoever, including, without limitation, direct, special, indirect, consequential, or incidental damages, or damages for lost profits, loss of revenue, or loss of use, arising out of or related to the AMEinfo.com Web site or the information contained in it, whether such damages arise in contract, negligence, tort, under statute, in equity, at law or otherwise.
