“We expect UAE banks’ provisioning for bad loans to hold ground in 2013, which, in turn, is likely to keep pressure on their profitability.
The Gulf Co-operation Council states, which have accumulated huge surpluses over the past decades due to high energy prices, have been attracting the world’s largest lenders, promising hefty returns to make up for mounting losses at home.
For the third quarter of 2012, the bank reported a net profit of Dh298.5 million, maintaining its profitability over the same period last year.
Most Arab oil exporting countries in the Gulf should plan to reduce growth in government spending to make their budgets more sustainable, as their combined surplus could turn into a deficit around 2017, the International Monetary Fund said Monday.
ABC Islamic Bank, a subsidiary of Bahrain-based Arab Banking Corporation, has registered a 75 per cent jump