UAE banks performing well despite lower profits
UAE banks are continuing to perform well, albeit with lower levels of profitability, largely the result of costs growing at a faster rate than operating income, according to a new report. Professional services firm Alvarez & Marsal released its latest UAE Banking Pulse covering the final quarter of 2017 said another trend has been an increase in liquidity, as deposits grew at a faster rate than loan advances. The report compares the quarterly data of the 10 largest listed UAE banks – First Abu Dhabi Bank, Emirates NBD, Abu Dhabi Commercial Bank, Dubai Islamic Bank, Mashreq Bank, Abu Dhabi Islamic Bank, Union National Bank, Commercial Bank of Dubai, National Bank of Ras Al Khaimah, and the National Bank of Fujairah.The report said loans and advances for the top 10 banks grew at a significantly slower rate (0.22 percent) than deposits (2.47 percent).
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