Emirates Islamic Expects 5%-10% Rise in Lending, Gulf News Says

Emirates Islamic Bank PJSC expects its Islamic financing business to increase by 5 percent to 10 percent this year, Gulf News reported, citing Faisal Aqil, the Dubai-based bank’s acting deputy chief executive officer.

The rise will be driven by an increase in financing to small and medium-sized businesses and to large companies, the Dubai-based daily said, citing Aqil. Provisions for bad loans have peaked and will decline, according to Aqil.

To contact the reporter on this story: Arif Sharif in Dubai at asharif2@bloomberg.net

To contact the editor responsible for this story: Edward Evans at Eevans3@bloomberg.net

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