Abu Dhabi – Mubasher: Provisions by banks against bad loans increased 7.8% by the end of 2016, a report released by the Central Bank of the UAE showed.
Provisions rose to AED 78.5 billion in 2016 from AED 72.8 billion by the end of 2015, whereas total reported non-performing loans (NPLs) rose 6.3% in 2016 and reached AED 99 billion from the overall banking portfolio worth AED 1.574 trillion, according to the statement.
The central bank confirmed that all NPLs were fully covered by provisions, which indicates the solidity of the UAE banking sector.
