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FINANCIAL NEWS
UAE commercial banks record high net profit in 2013
12 Sep 2013
(MENAFN) The UAE’s banking federation reported yesterday that the UAE’s commercial banks saw a vast net profit growth, and it is expected to remain to the end of 2013 reaching 20 percent growth, according to Gulf Daily News.
The banks’ net growth came from the emirates’ economic improvement recording high earnings and lower loans, especially in real estate sector.
Mashreq chief executive Abdulaziz Al Ghurair said: “Banks here managed to overcome challenging global and regional conditions. We expect banks to report a 20pc growth in net profit in 2013.”
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