Emi­rates NBD to con­tinue lend­ing tight

The Pak Banker - - Company& -

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

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