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‘Speculative’ real estate loans to double UAE banks’ bad debt: IIF

Posted on 22 November 2010

From Emirates247.com: Overexposure to the “highly speculative” real estate sector and highly leveraged companies has eroded asset quality of UAE banks, and the percentage of bad loans on the country’s banks’ books could go up to as much as 10 per cent, according to the Washington-based Institute of International Finance (IIF).
The ratio of non-performing loans (NPLs) to total loans has almost doubled from 2008 to 2009 in Kuwait and the UAE, and is expected to increase further this year, the IIF maintains in its regional overview of the GCC economies……………………………………….Full Article: Source


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