Bloomberg News

UAE Bank Rules to Cut Retail Revenues by up to 20%, NBAD Says

October 04, 2011

Oct. 4 (Bloomberg) -- United Arab Emirates banks’ revenue from their retail business are likely to decline as much as 20 percent as a result of central bank rules that took effect in May, a National Bank of Abu Dhabi PJSC official said.

“The impact will be significant. Definitely double-digit. I’d say 15 percent to 20 percent on the entire revenue pool of banks in this market, Suvo Sarkar, general manager for consumer banking at NBAD, told a MEED conference ion Dubai today.

To contact the reporter on this story: Stefania Bianchi in Dubai at sbianchi10@bloomberg.net

To contact the editor responsible for this story: Inal Ersan at iersan@bloomberg.net


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