U.A.E. Bank Provisions Surge, May Hamper Earnings: Arab Credit
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Provisions taken by banks in the United Arab Emirates for non-performing loans increased to the highest level in more than a year and may damp earnings for the country’s lenders in the third quarter.
Provisions for non-performing loans rose 11 percent in the first eight months of 2011 to 49.2 billion dirhams ($13.4 billion) in August, the highest since at least April 2010 when Bloomberg began tracking U.A.E. banking data.