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Article: UAE banks set the pace.

Article from:
Gulf News (United Arab Emirates)
Article date:
September 29, 2009
Copyright

Byline: Zaher Bitar, Staff Reporter

Dubai: The combined assets of 420 Arab banks last year reached $1.9 trillion (Dh6.9 trillion), with the top 100 lenders accounting for $1.5 trillion, according to a top official of the Union of Arab Banks (UAB).

Total shareholders' equity for all the banks rose $164 billion while net profits stood at $24 billion in 2008. The aggregate deposits reached $1 trillion and the total loan disbursement exceeded $831 billion, Adnan Ahmad Yousuf, chairman of UAB, who is also the president and chief executive of Al Baraka Banking Group, told Gulf News yesterday.

The impact of the global financial crisis has not been as ...

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