UAE banking sector projected to grow 6.5% in 2019

2019-03-28 14:51:14 GMT (Economies.com)
 

The UAE’s banking sector is likely to achieve 6.5% growth in the year 2019, according to Abdulaziz Alghurair, Chairman of UAE Banks Federation. He also said the bank enjoys strong liquidity and 18% capital adequacy ratio.

 

The banking sector is witnessing technological and structural transformations, accompanied with an increase in regulation and compliance levels, said Alghurair, adding that the federation will in turn continue to support member banks to explore innovative and effective work methods that are marked with transparency.

 

The UAE Banks Federation held its first meeting this year to review the initiatives and achievements for 2018, as well as its priorities and strategic plans for the current year, amid expectations the sector growth will reach 6.5% by the end of 2019.

 

Meanwhile, Moody’s analysts earlier this month expected the UAE banking sector to record stable performance this year, backed by economic growth as well as liquidity and capitalization levels.

 
 
 
  Symbol Last Change Chg.%
1.1817
0.0107
0.9159%
1.3076
0.0061
0.4725%
Tadawul
7499.97
10.08
0.13%
28.227
3.980
16.414%
41.400
0.965
2.386%
44.60
-0.50
1.11%
2054.295
84.940
4.313%
 
 
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