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  • 27-05-19

    Personal loans in UAE decline by 1.2 percent

    (MENAFN) Personal loans that banks in the United Arab Emirates (UAE) extended from January to March 2019 witnessed a 1.2 percent decline on quarterly basis and a 0.9 percent drop on annual basis.

    Data that the UAE Central Bank issued explained that the decrease is mainly attributed to soft consumer demand as well as household sentiment.

    UAE personal loans, statistics unveiled, stood at AED 333.5 billion during the first quarter from the AED 336.5 billion recorded during the same period in 2018.

    Abu Dhabi Commercial Bank Monica Malik stated: "we highlight some caution on the loan growth outlook in the second quarter with the earlier start of the holy month of Ramadan in 2019."

    MENAFN2705201900450000ID1098573823

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