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Discuss this article (1 Comments)UAE banks tipped to post profit growth in 2009 - bank chief
by This email address is being protected from spam bots, you need Javascript enabled to view it on Sunday, 19 April 2009
Most United Arab Emirates Banks are expected to report profit growth in 2009, the chairman of Emirates NBD said on Sunday.
"Most of the banks will report growth in profit this year," Ahmed Al Tayer told reporters.
Asked about his bank's profit, Tayer said: "I think everything is going in the right direction. The first quarter result is good, it is positive, better than last year. I think most banks will report growth."
Related: The loan danger
"Lending is continuing. There is a limit for the customers and the corporate mainly, and we are utilising the previous commitments and the previous limits so there is growth in the lending also," he said. (Reuters)
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loans
Posted by AirMiles, Dubai, UAE on Monday 20 April 2009 at 08:44 UAE time
Almost right, unless you want to trade in your old car and upgrade to a new one, which, anywhere else in the world, the banks would convince you to rollover your loan and add a new car to your existing debt. That's one easy way to get consumers to continue borrowing. Unfortunately, EBI insist you sell your exisiting car, clear your exisitng loan, reapply for a new loan, under less than favourable critieria, and start all over again. And where would this be? Why, it couldn't be at a car showroom bearing the Chairman's name, could it? Oh dear...
Posted by AirMiles, Dubai, UAE on Monday 20 April 2009 at 08:44 UAE time
Almost right, unless you want to trade in your old car and upgrade to a new one, which, anywhere else in the world, the banks would convince you to rollover your loan and add a new car to your existing debt. That's one easy way to get consumers to continue borrowing. Unfortunately, EBI insist you sell your exisiting car, clear your exisitng loan, reapply for a new loan, under less than favourable critieria, and start all over again. And where would this be? Why, it couldn't be at a car showroom bearing the Chairman's name, could it? Oh dear...
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