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FINANCIAL NEWS
UAE’s financial position to remain constant
10 Dec 2015
(MENAFN) UAE’s financial position will be safe despite an increase led by a fall in oil prices, keeping its stable outlook for nation’s banking system; asset value of banks is predicted to stay steady.
Furthermore, liquid assets are predicted to decline to 25 percent from around 30 percent of whole assets of Dec last year.
“The stable outlook reflects our expectation that despite the economic slowdown driven by low oil prices, banks’ credit profiles will broadly remain resilient. While we expect subdued credit growth,” said the ratings agency.
Accordingly, it is expected that there will be a real GDP rise of almost 3.1 percent and 3.2 percent for the years 2015 and 2016, down from 4.6 percent in 2014.
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