Dubai’s DIB Boosts 2014 Loan Growth Forecasts on Economy
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Dubai Islamic Bank PJSC has raised loan growth forecasts for 2014 as it increases its corporate and real estate businesses amid the fastest economic expansion in the lender’s home market for at least seven years.
The United Arab Emirates’ biggest Shariah-compliant bank expects lending to grow 15 percent to 20 percent in 2014, more than the 10 percent to 15 percent it had previously forecast, according to Chief Executive Officer Adnan Chilwan. As Dubai’s economy expands, the state-controlled lender is focusing on all business lines including corporate and commercial real estate, he said in an e-mailed interview yesterday.