Business Services Industry
UAE: MOODY'S REPORTS: STABLE OUTLOOK FOR UNITED ARAB EMIRATES BANKS.
IPR Strategic Business Information Database, December, 2007
The outlook for Moody's rated banks in United Arab Emirates (UAE) is stable, reflecting solid financials underpinned by a vibrant economy and strong growth in a benign environment, says Moody's Investors Service in its new Banking System Outlook for UAE. However, these positive factors are counterbalanced by elevated credit risks associated with robust growth in the as-yet-unseasoned loan portfolio of banks, which may be tested in adverse economic conditions.
"High oil prices and escalating government spending on infrastructure, coupled with high private-sector involvement in real estate and the positive momentum in the country's stock and real estate markets, have created an overwhelming appetite for credit," says Peter Carvalho, Moody's Vice President -...
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