UAE banks have been told to take provisions for bad loans on a quarterly basis, in long-awaited guidelines from the central bank aimed at bringing the banking system in line with international standards.
Banks in the UAE have suffered from
BisB has decided to strengthen its provisions base for the third consecutive quarter to enhance its financial position.
Chairman Khalid Abdullah Al Bassam yesterday announced that BisB board has approved the financial results, where the ba
Saudi Hollandi Bank and Arab National Bank (ANB) made the highest quarterly provisions in 2009 for credit losses during the fourth quarter, stock exchange data showed on Saturday.
Saudi Hollandi, partly owned by Royal Bank of Scotland, boo
UAE banks set aside a further Dh4 billion ($1.08 billion) in specific provisions for non-performing loans in the third quarter, according to data published on the central bank's website, but the pace of increase appears to be slowing.