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UAE private loans fell in first five months
- United Arab Emirates: Thursday, September 27 - 2012 at 08:57
Figures from the UAE central bank indicate lenders in the country have expanded credit to the government by nearly Dhs9bn in the first five months of 2012, Emirates 24-7 has reported. In contrast, loans to the private sector decline by some Dhs5bn in the same period to extend a trend of slow credit growth since the global crisis. Total loans provided by the 23 national banks and 28 foreign units edged up to nearly Dhs794.4bn at the end of last May, compared with around Dhs788bn at the end of 2011, the central bank said in its May statistics bulletin.
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