Thursday, February 24, 2011

Banks Expected to Grow in 2011


There seems to be some evidence that the economic problems the UAE has been facing since the real estate crisis might be slowly getting better.

I found this article, which explains how some of the major banks in the UAE are actually projecting growth for the first time since the collapse of the real estate market. I found this really interesting because the article details how the bankers and businesses brought the various banks back from the brink of collapse. My favorite part of the growth is that the bankers managed to eliminate bad loans and become profitable through "declining loan losses and portfolio impairments and rising liquidity resulting from improving deposits."

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