Emirates NBD (ENBD), Dubai’s largest lender, expects loan growth to be around 5 percent in 2015, it told Reuters on Wednesday.
Loan growth climbed by 4 percent in the first quarter of the year, up from the same period of last year, the bank said in its first-quarter earnings statement, released earlier in the day.
In an emailed response to questions, a spokeswoman for ENBD said it forecast 2015 loan growth to be “in the 5 percent area.”
The bank expected loan growth to be between 5 and 7 percent in 2015, chief executive Shayne Nelson told reporters in February.
ENBD posted a 60 percent rise in first-quarter net profit on Wednesday, beating analysts’ forecasts as income from lending, fees and other products increased and provisions dropped.
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