09.02.2011 - Bank provisions across the Emirates at all-time high
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
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