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."
"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)For all the latest banking and finance news from the UAE and Gulf countries, follow us on Twitter and Linkedin, like us on Facebook and subscribe to our YouTube page, which is updated daily.
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