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Islamic Finance Briefing - Categorized | Banking, Performance more

UAE banks’ provisions increase 178 pct

Posted on 09 November 2009

From Business24-7.ae: Nine-month provisions for 19 banks listed on UAE stock exchanges were up more than 178 per cent year-on-year while net profits fell 13.7 per cent at the end of the third quarter, Emirates Business research reveals.

Combined provisions of the 19 banks analysed by this paper rose to $2.2 billion (Dh8.2bn) in the nine-month period ended September 2009, from $801 million in the corresponding period of 2008…………………………Full Article: Source

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