NBAD sees 8-10pc loan growth
Abu Dhabi, March 11, 2014
National Bank of Abu Dhabi, the largest lender by market value in the United Arab Emirates, expects growth in its loans of 8 to 10 percent in 2014, chief executive Alex Thursby said on Tuesday.
"Loan growth will be good this year but there are also other drivers of growth - current account, trade, forex," Thursby told reporters on the sidelines of the bank's annual general meeting.
Last year, NBAD's net loans and advances rose 11.7 per cent to 183.8 billion dirhams ($50.0 billion).
Late last month First Gulf Bank, the UAE's second-largest lender, predicted 2014 loan growth in the "low double digits". - Reuters