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UAE bank lending remains subdued

According to a report by Saudi Arabia's National Commercial Bank (NCB), bank credit in the UAE has remained subdued, partly due to a stricter regulatory environment, even as the general economic backdrop has improved significantly, Arab News has reported. Total bank lending in the second quarter climbed 1.7% to an average of Dhs980.6bn. Lending to the private sector contracted by 0.1% to a quarterly average of Dhs718.1bn, while lending to the public sector advanced by 15.2% to Dhs187.6bn, NCB said in its 'GCC Financial Market' report.