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U.A.E. bank profit may rise 18 pct, Global Investment says

Posted on 18 May 2010

From Bloomberg: United Arab Emirates’s eight biggest banks may report an 18 percent rise in profit in 2010 and earnings may increase further if provisions from Dubai World’s debt restructuring aren’t high, Global Investment House KSCC said.
Revenue growth at the banks will slow while assets will expand at single-digit rates “as banks adopt a cautious stance,” the Kuwaiti investment bank said in a report e-mailed today. Earnings may grow at an average annual rate of 26 percent over the next four years as U.A.E. economic growth accelerates beyond the 2 percent to 3 percent rate expected this year, Global said………………………………………Full Article: Source

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