Banks in the UAE have been given until June 16 to assess the impact of new accounting standards, which are likely to raise the impairments required against bad loans, according to a central bank document seen by Reuters.
First Gulf Bank, the third-largest lender in the UAE by assets, beat analysts estimates on Wednesday after posting a 13 per cent rise in fourth-quarter net profit.
It was helped by setting aside significantly less cash for bad loa
Kuwait's central bank aims to cut the bad loan ratio among Kuwaiti commercial banks to below 3 per cent of total loans by the end of this year from 3.2 per cent at present, central bank governor Mohammad al-Hashel said.
China's bad loans increased sharply in the first three months of the year, official data showed, with analysts saying yesterday the total was at its highest in almost three years.
Outstanding non-performing loans at Chinese ba
JPMorgan Chase & Co has reached a tentative $13 billion deal with the US Justice Department and other government agencies to settle investigations into bad mortgage loans the bank sold to investors before the financial crisis, a source famil
Bad loans as a proportion of the bank's total lending book will be 14-15 percent this year, instead of a previous estimate of 15-16 percent, Surya Subramanian, chief financial officer of Emirates NBD, Dubai's largest lender, said.
The Central Bank of Bahrain (CBB) has reported BD51.5 million ($136 million) in bad loans last year, said a report in our sister paper Akhbar Al Khaleej.
“Bad loans averaged 3.4 per cent of the total consumer loans which top
Kuwait Finance House (KFH) , the country's biggest Islamic lender, reported a 33 per cent increase in third-quarter net profit on Wednesday, beating analyst estimates.
Net profit rose to KD33.7 million ($119.9 million) from KD
Emirates NBD, Dubai's largest bank by market value, on Monday said third-quarter net profit more than tripled on the back of lower provisioning for bad loans and higher non-interest income, beating analysts' forecasts.
The UAE may soon fine banks which grant loans to consumers who are unable to pay back the debt, the central bank governor was quoted as saying in remarks published on Saturday.
The UAE is working on a law to protect consumers' rights, whic