Jan

Cracks Start to Show for U.A.E. Banks as Bad Loans Set to Rise

Provisions could rise by as much as 20 basis points: analysts
Defaults are likely to increase in property and SME business

Cracks are starting to show in the United Arab Emirates’ banking sector as a property and retail slump take its toll on lenders.

One of the country’s smallest banks is being bailed out, problem loans are expected to rise this year and lenders are exploring mergers to stay competitive. Slow property sales, higher interest rates and a rise in lending amid improved economic growth could mean provisions jump as much as a quarter, according to analysts…

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Cracks Start to Show for U.A.E. Banks as Bad Loans Set to Rise

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