Abu Dhabi's NBAD eyes 8-10% loan growth in 2014

Chief executive of UAE's largest lender is upbeat regarding growth this year
Abu Dhabi's NBAD eyes 8-10% loan growth in 2014
(Getty Images)
By Reuters
Tue 11 Mar 2014 05:54 PM

National Bank of Abu Dhabi, the largest lender by market value in the UAE, expects growth in its loans of 8 to 10 percent in 2014, chief executive Alex Thursby said on Tuesday.

"Loan growth will be good this year but there are also other drivers of growth - current account, trade, forex," Thursby told reporters on the sidelines of the bank's annual general meeting.

Last year, NBAD's net loans and advances rose 11.7 per cent to 183.8 billion dirhams ($50.0 billion).

Late last month First Gulf Bank, the UAE's second-largest lender, predicted 2014 loan growth in the "low double digits".

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