Abu Dhabi – Mubasher: The UAE banks are expected to post a rise in profits by 5%-10% by the end of 2017, Al Khaleej newspaper reported.
The banking sector is expected to continue its growth despite economic slowdown and geopolitical tension regionally and globally, Mohammad Nasr Abdeen, CEO of Union National Bank, said.
The sector has assets exceeding AED 2.65 trillion, with a capital amounting to AED 347 billion, Abdeen noted.
The UAE banks have the ability to face challenges and meet the requirements of Basel III, he stated.
