403
Sorry!!
Error! We're sorry, but the page you were looking for doesn't exist.
UAE loan demand growth moderating
(MENAFN- Arab News) DUBAI: Demand for credit in the UAE remains healthy but growth in demand for loans is moderating and credit standards for companies are tightening the UAE central bank said in its first-quarter credit sentiment survey.
'Such softening in the March quarter likely reflects conditions reverting toward a more sustainable path following the exceptionally strong conditions evident in early-to-mid 2014' the central bank said. It said lower oil prices had only a minor impact on UAE credit conditions with most respondents to the survey reporting no effect on demand for business loans or credit standards.
The net balance measure for business lending the weighted percentage of respondents reporting an increase in demand for loans minus those reporting a fall in demand dropped to 13.6 in the first quarter from 29.6 in the previous quarter.
Respondents' expectations for the second quarter also moderated with the net balance measure falling to 24.6 from 33.3.
Respondents were most optimistic in Abu Dhabi and the northern emirates and least optimistic in Dubai the central bank said.
'Such softening in the March quarter likely reflects conditions reverting toward a more sustainable path following the exceptionally strong conditions evident in early-to-mid 2014' the central bank said. It said lower oil prices had only a minor impact on UAE credit conditions with most respondents to the survey reporting no effect on demand for business loans or credit standards.
The net balance measure for business lending the weighted percentage of respondents reporting an increase in demand for loans minus those reporting a fall in demand dropped to 13.6 in the first quarter from 29.6 in the previous quarter.
Respondents' expectations for the second quarter also moderated with the net balance measure falling to 24.6 from 33.3.
Respondents were most optimistic in Abu Dhabi and the northern emirates and least optimistic in Dubai the central bank said.
Legal Disclaimer:
MENAFN provides the
information “as is” without warranty of any kind. We do not accept
any responsibility or liability for the accuracy, content, images,
videos, licenses, completeness, legality, or reliability of the information
contained in this article. If you have any complaints or copyright
issues related to this article, kindly contact the provider above.
Comments
No comment