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It had been the new bank’s next consecutive one-fourth loss pursuing the several years off continued growth
Mohammad Nasr Abdeen, the latest President from Union Federal Financial, talks to Claire Ferris-Place about his bank's conservative method of lending provides set they inside the good stead to grow this season.
, foretells Claire Ferris-Put about precisely how his bank's conservative way of credit keeps put they from inside the a beneficial stead to enhance this year.
I expect you'll develop in this 10 percent this year, Mohammad Nasr Abdeen, the fresh new President of Abu Dhabi-basedUnion Federal Bank (UNB)
Once five successive years of development on the rear of your roaring a residential property market, UAE bank earnings has actually id the latest downturn.
So it careful method allows the official-controlled bank to carry on to expand even with a hard coming year
announced third quarter websites loss regarding 38 %. Last year all of our growth was most limited. I been able to assistance our people in the best way but we failed to be able to grow the business considerably, admits Abdeen, an experienced banker with more than 30 years of expertise when you look at the the.
's complete year outcomes for 2009 it might be certainly one of the higher starting banking institutions in the country. 2009 try a quite difficult seasons yet still particular banking institutions usually reveal great results and we'll become among them, he says assertively.
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