Abu Dhabi – Mubasher: The UAE banks’ annual profits will be affected by lower banking activities on the back of economic slowdown, as well as the decline in liquidity and loans, according to Mubarak Al Mansoori, Governor of the UAE Central Bank.
The banking activity was also weighed down by higher costs and the rise in global interest rates, Emarat Al Youm reported.
The banks’ profits reached 29.9 billion till the end of October 2016, compared to AED 31.8 billion in the same period of 2015.
