From Thenational.ae: Provisioning rose 7.5 per cent for the month compared with November to reach Dh44.3 billion (US$12.06bn), according to data from the Central Bank. Compared with December 2009, provisions were up more than 35 per cent.
“It’s typical for the year-end that you get some sort of surprise, but this is a big increase,” said Raj Madha, a Mena region analyst at Rasmala Investment Bank……………………………………….Full Article: Source