Emirates NBD to continue lending tight
DUBAI: Emirates NBD, Dubai's largest bank by market value, will continue to pursue a tight lending policy, even as it predicts lower consumer provisions, a senior executive said on Thursday.
Group Deputy Chief Executive Jamal Bin Ghalaita, speaking at the launch of new gold-related products, said he expected the bank to book lower provisions in the consumer banking segment next year.
"We are always going to be conservative in terms of underwriting," Ghalaita told reporters. "Next year, provisioning will be coming down generally," he said, adding that provisions in the consumer banking segment had dropped by half in the third quarter from the first quarter of 2010. The bank said in October that its third-quarter profit tumbled 60 percent after a spike in bad loans and a provision for its exposure to debt-laden conglomerate Dubai World. -PB News
MEXICO: Federal Minister for Environment Hameed Ullah Jan Afridi talking to the Deputy Prime Minister of Qatar in a meeting at Cancun. Federal Secretary Environment Muhammad Javed Malik also present in meeting. -App