Crédito
UAE’s NBAD revises down 2012 loan growth:
National Bank of Abu Dhabi said higher interest and fee income would help it offset lower loan growth this year, keeping its top-line profit forecast on track.
The bank, the largest in the UAE by market value, now expects lending to grow by 4-8 percent this year, CEO Michael Tomalin told an analyst call, as opposed to the 10-percent increase it forecast in the first two quarters of 2012.
However, Tomalin expected loan growth to recover in 2013, with a 10 percent rise currently forecast for next year.
Despite lower loan growth, NBAD’s profit forecast for 2012 remains for an increase of 5-10 percent over last year as higher interest income and greater fee income boost its performance.
NBAD reported last week a 7.6 percent rise in net profit for the first nine months of the year, versus the same period of 2011.
IMF says not worried by Dubai’s debt obligations: Senior International Monetary Fund official unconcerned about debt estimated at $48bn